State fund to kickstart €1bn biomethane sector

ISIF to pump €200 million into farm-based alternative to fossil gas, which supplies more than a fifth of renewable energy in other EU states

Nick Ashmore, director of the Ireland Strategic Investment Fund: ‘Biogas is an area we want to be active in. As we've done in other sectors, we want to help lead out the development and growth of the industry’

The Ireland Strategic Investment Fund (ISIF) is planning to invest up to €200 million over the next decade to help support the development of a new €1 billion biomethane industry, the head of the sovereign wealth fund has said.

Nick Ashmore, director of ISIF, said the fund had a broad investment mandate that needed to make a return, but that it was also very focused on investing in areas such as climate solutions and decarbonisation.