Green Forum • 30 May, 2024 at 10:00 AM
Black Sea Oil & Gas SA, together with its shareholders, the global investment firm Carlyle, and the European Bank for Reconstruction and Development, announce the launch of BSOG Energy SRL, a new company focused on developing biogas plants across Romania.
Headquartered in Bucharest, Romania, BSOG Energy will develop biogas plants throughout the country, with each site estimated to have a capacity of at least 15 MW. Carlyle and EBRD have committed to support BSOG Energy's development activities and to work together on the expansion of this new company.
BSOG's initial mission was to contribute to Romania's energy security and affordability by delivering domestically produced gas to Romanian consumers. Through the launch of BSOG Energy, BSOG intends to play a significant role in the European energy transition and to accelerate the development of Romania's renewable energy sector.
Biogas results from industrial processing through anaerobic digestion of agricultural residues and other organic waste such as manure, straw, and food waste. The net carbon dioxide emissions generated are significantly lower, or in some cases negative, compared to fossil-based methane.
For these reasons, biogas is expected to play a critical role in achieving the European Union's climate goals. The demand for biogas is estimated to grow by 20% per year this decade, driven by supportive policies and incentive packages from the European Union.
Given the size of its agricultural sector, Romania has substantial amounts of agricultural waste that remain unused. By harnessing this natural resource and promoting public policies that facilitate private investments and access to subsidies from the European Union's Modernization Fund, Romania has the potential to become a leader in biogas in Europe.
Mark Beacom, CEO of BSOG and General Manager of BSOG Energy, stated: “In partnership with our shareholders, Carlyle and EBRD, through the establishment of BSOG Energy, we are expanding our business portfolio in Romania with a new company active in the development of renewable energy projects. Biogas plays an important role in the energy transition, eliminating the significant pollution impact of organic waste disposal on land and landfill sites, while also ensuring substantial reductions in greenhouse gas emissions by transforming naturally produced methane into a usable fuel produced domestically.”