November 26, 2020. UGI Corporation announced that its subsidiary, UGI Energy Services, LLC, entered into definitive agreements to invest in New Energy One HoldCo LLC, which is part of the team developing a utility-scale renewable natural gas (“RNG”) project in Idaho.
The Idaho RNG project is being developed jointly by Sevana Bioenergy, LLC, an affiliate of New Energy One HoldCo LLC, and Meridiam, a leading global independent investment Benefit Corporation and asset manager of sustainable public infrastructure. The Idaho project, currently generating renewable electricity, is expected to produce several hundred million cubic feet of RNG each year from on-site dairy waste feedstock once it is expanded to reach full production in 2022; initial RNG production is expected to commence in late 2021.
Sevana, based in Larkspur, California, develops, designs, owns and operates large-scale anaerobic digestion projects which produce RNG and organic based soil amendments. Using state-of-the-art technology, engineering, and design, they are a market leader of RNG production in the United States. Biogas projects reduce waste and long-term greenhouse gas emissions, while also increasing the use of renewable energy.
Earlier this year, UGI announced its acquisition of GHI Energy, LLC, an RNG marketing business based in Houston, Texas. As part of its announcement of that acquisition, UGI outlined how that investment would provide a platform for growth in other RNG projects. UGI’s investment in the Idaho project reinforces UGI’s commitment to the development of RNG and sustainable energy. Additionally, the investment in the Idaho project reinforces the company’s existing greenhouse gas emission reduction strategies highlighted in UGI’s recently published environmental, social and governance report titled “Today’s Energy, Tomorrow’s World” and provides a platform to further advance our efforts.