'Another important step': Northern Ireland renewable energy company accelerates bioenergy asset acquisitions across UK and Ireland with £25m boost

OakNorth, the digital bank for entrepreneurs, has provided a £25 million loan to Northern Ireland renewable energy company EAG Bioenergy, supporting the expansion of its bioenergy asset portfolio across the UK and Ireland.

Founded in 2019 by Chris Kerr, EAG Bioenergy specialises in the acquisition, operation and development of biogas, biomethane and biofertiliser assets. The company is headquartered near Belfast and is backed by Vesper Infrastructure Partners and OrbeNovo Capital.

The funding will enable EAG Bioenergy to scale its existing portfolio through a targeted buy-and-build acquisition strategy, focusing on high-quality, operational biogas and biomethane sites with further expansion potential. These acquisitions will increase the production of renewable electricity and biomethane, supporting energy security and decarbonisation efforts across the UK and Ireland.

Vesper Infrastructure Partners is a value-add infrastructure investor targeting mid-market opportunities across energy, energy transition, data and digital, and social infrastructure. OrbeNovo Capital is a specialist private equity firm investing in growth businesses and real assets in the energy and industrial sectors, with a strong focus on decarbonisation.

The transaction comes as the UK biogas and biomethane sector is forecast to grow at a compound annual growth rate of 13.7% to 2033, driven by sustainability targets and the need to strengthen domestic energy supply.

Commenting on the deal, Peder Bratt, director of EAG Bioenergy and Partner at OrbeNovo Capital, said: “This transaction represents another important step in executing EAG Bioenergy’s buy-and-build strategy across the UK’s fragmented biogas market.

"The assets being acquired are high-quality, operational sites with expansion potential that fit squarely within our investment thesis of building a scaled, diversified platform underpinned by long-dated, inflation-linked revenues.

“OakNorth’s ability to structure and deliver capital efficiently has been instrumental in enabling EAG Bioenergy to continue expanding its footprint at pace, while maintaining a disciplined approach to risk and value creation.”

Michael McGregor, director of Debt Finance at OakNorth, added: “Biogas and biomethane play an increasingly important role in the UK’s energy transition, offering a reliable, low-carbon alternative to fossil fuels while supporting the circular economy. With the market forecast to grow significantly, demand for high-quality, well-operated assets is strong.

“EAG Bioenergy benefits from an experienced management team, institutional backing and a clear strategy, and we’re pleased to support the business as it continues to build a diversified, scalable renewable energy platform.”