Article
Green Giraffe Advises Vireo on Second Bio-LNG Plant Financing in Norway
Biogas, 19 December 2025
Green Giraffe Advisory is delighted to announce its role as exclusive financial advisor to Vireo, a pioneering Norwegian developer of biogas plants, in securing financing for its second greenfield bio-LNG facility, the Lista Biogas project. This achievement represents another major milestone for renewable energy in Norway and reinforces Green Giraffe’s expertise in structuring complex financing for critical energy transition initiatives, as well as the trust placed in us by Vireo as a repeat client.
Located near Farsund Airport on Norway’s southern coast, the Lista Biogas plant will be a key contributor to the country’s sustainability goals. Designed to process approximately 160,000 tons of mixed feedstock annually, including manure, fish, and food waste, the facility is expected to produce around 90 GWh of liquefied biomethane (bio-LNG) each year. This output will help reduce waste, generate clean energy, and accelerate Norway’s transition to a low-carbon future.
Founded in 2021 and supported by Swen Impact Fund for Transition 2, an infrastructure fund managed by French asset manager SWEN Capital Partners, Vireo is committed to becoming Norway’s leading bio-LNG producer. The Lista Biogas project marks Vireo’s second financial close, paving the way for two biogas plants to be under construction simultaneously. The company has a pipeline of projects that it envisages to build out over the coming years.
Green Giraffe Advisory played a pivotal role in guiding the debt-raising process, with ING and Sparebank 1 Sør-Norge, following their involvement in the Hardanger project, providing the senior secured facility for Lista as well. This successful close underscores Green Giraffe’s deep knowledge of the renewable energy sector, strong financial network, and ability to deliver tailored advisory solutions for innovative projects.
“Reaching financial close on Vireo’s Lista Biogas project six months after its first project underscores the momentum of the Norwegian biomethane industry and financiers’ appetite to fund good projects” said Nichlas Rasmussen, Manager of Green Giraffe Advisory. “We are proud that Vireo entrusted us raising debt for their second project and to help push forward the roll-out of biomethane projects in Norway and beyond.”
Green Giraffe Advisory remains committed to supporting impactful projects that drive the global transition toward a greener economy.
Read the full press release here: https://vireo.no/gront-lys-for-lista-biogass/