The partnership between Abrdn and Italian renewable gas specialist Blu-H Energy S.r.l (BHE) acquired four additional operating biogas facilities in Italy in October.

Earlier in 2024, the partnership successfully participated in the fourth incentive auction with two plants in the portfolio being awarded a 15-year biomethane incentive tariff.

“These acquisitions bring the total number of plants in the platform from eight to twelve,” said Abrdn. “The partnership also has plans for further acquisitions in the near future.

“Two of the twelve plants have participated in the fourth auction mandated by the Biomethane Decree and have successfully been awarded a 15-year incentive tariff to produce biomethane. Upgrading works for the relevant plants are expected to commence shortly.”

The platform is part of Abrdn’s third Core Infrastructure Fund, ASCI III, which is currently raising funds and investing in the pan-European infrastructure mid-market and is classified as Article 8 under SFDR.

Soti Calochristos, Investment Director, Abrdn Core Infrastructure, said: “These further acquisitions reflect our continued support of the biomethane sector.

“We are very pleased with the development of our partnership with Blu-H Energy and look forward to continuing to acquire more operational biogas facilities in Italy, with the goal of upgrading them to produce biomethane in the future.

“Furthermore, the successful award of the incentive tariff is another big step in the development of our portfolio of biomethane plants.”

Abrdn manages and administers £506.7 billion of assets for clients.