Article
Green Giraffe Advises Vireo on Landmark Bio-LNG Plant Financing in Norway
Biogas, 19 June 2025
Green Giraffe Advisory is proud to announce its role as the exclusive financial advisor to Vireo, a pioneering Norwegian developer of biogas plants, in securing the financing for their greenfield Hardanger Biogas plant. This significant milestone marks a major step forward for renewable energy production in Norway and underscores Green Giraffe’s expertise in facilitating complex financing for crucial energy transition projects.
The Hardanger Biogas plant, located in Husnes Industriområde on the Norwegian west coast, is set to become a vital asset in Norway’s push towards a more sustainable future. With plans to process approximately 120,000 tons of diverse feedstock annually – including manure, fish, and food waste – the facility aims to produce around 90 GWh of liquefied biomethane (bio-LNG) each year. This will play a crucial role in reducing waste, generating clean energy, and accelerating the energy transition in Norway.
Vireo, founded in 2021 and backed by Swen Impact Fund for Transition 2, an infrastructure fund managed by French asset manager SWEN Capital Partners, is dedicated to becoming Norway’s leading bio-LNG producer. The Hardanger Biogas plant is the first of multiple facilities the company has under development across the country.
Green Giraffe Advisory’s role as exclusive financial advisor was instrumental in navigating the debt raising process, which saw ING and Sparebank 1 Sør-Norge providing the senior secured facility. This successful financial close highlights Green Giraffe’s deep understanding of the renewable energy market, its robust network within the financial sector, and its ability to deliver tailored advisory solutions for innovative projects.
“The Hardanger Biogas project is an excellent example of how sustainable initiatives can attract significant capital when supported by holistic financial advice,” said Nichlas Rasmussen, Manager of Green Giraffe Advisory. “In a still nascent industry in Norway, we are proud to have supported Vireo in bringing this transformative project to fruition, contributing to the country’s clean energy goals and the broader global energy transition.”
The Hardanger Biogas plant is poised to set a new standard for sustainable energy solutions in Norway, demonstrating the immense potential of bio-LNG as a clean, domestically produced fuel. Green Giraffe Advisory remains committed to supporting such impactful projects that drive the global shift towards a greener economy.
Read the full press release here: https://vireo.no/vireo-sikrer-finansiering/