GIP increases ownership in RNG project, selects strategic partner

By Erin Voegele | February 21, 2023

Green Impact Partners Inc. in mid-February announced plans to purchase all of the partnership units of GreenGas Colorado LLC held by its minority partner and announced the selection of Amber Infrastructure Group as a strategic partner.

GIP on Feb. 19 released a statement indicating it had closed into escrow the purchase of all the partnership units of GreenGas Colorado held by its minority partner, Advanced Renewable Colorado LLC, for approximately $11.2million.

The GreenGas Colorado project is currently undergoing commissioning, and expected to generate 180,000 MMBtu of renewable natural gas (RNG) for the balance of 2023, increasing to more than 360,000 MMBtu in run-rate production by year end of 2023.

“With our GreenGas Colorado facility nearing completion, I want to thank our development partners, ARC, for their vision and diligence in advancing our projects with us,” said Jesse Douglas, CEO of GIP.

GIP on Feb. 21 announced the selection of Amber Infrastructure Group as a strategic partner on its GreenGas Colorado, Iowa RNG, and Future Energy Park projects, representing up to $545 million in total investment for 50 percent project-level equity interest in each facility.

“We are very excited to announce this transformative transaction, moving forward with a leading infrastructure investment partner, that highlights the immense value of our net zero projects and development portfolio,” Douglas said. “Securing this project-level funding will enable us to move forward with our development portfolio in an accretive way to our shareholders. This investment will help drive forward the construction of our flagship project – Future Energy Park – and Iowa RNG in 2023, while allowing GIP to continue to progress as many as five additional projects in its $3 billion project pipeline, that could produce up to 10 million MMBtu of carbon negative RNG over the next three to five years.”

“We are excited to partner with GIP to deliver projects that align with progressive government policy in the US and Canada,” said Tom O’Shaughnessy of Amber Infrastructure. “We share a common purpose, our values are aligned, and we look forward to making an impact together through the deployment of low carbon projects at scale.”