Allianz to invest in Ren-Gas

Avance advises Allianz Capital Partners, on behalf of Allianz insurance companies, in the acquisition of a minority stake in the Finnish green hydrogen and power-to-gas developer Ren-Gas. The main product of Ren-Gas’ plants is renewable synthetic methane, which is made from green hydrogen produced using renewable energy from local wind farms and carbon dioxide from district heating plants, while excess process heat is provided back to the district heating network. Allianz will provide funding of EUR 25 million to Ren-Gas to support the company’s project portfolio towards execution and to accelerate the business. Allianz will become a minority shareholder in Ren-Gas with a pre-agreed framework to invest in the Ren-Gas portfolio of projects.