“This project to capture gas from former mines is doubly virtuous.”
“This project to capture gas from former mines is doubly virtuous.”
Video interview with Shirley Chojnacki, Head of Energy Infrastructure Investments at Edmond de Rothschild Asset Management.
Within the framework of the Think Tank “2030, Investir demain,” Edmond de Rothschild Asset Management is the co-founder of the working group dedicated to urbanization and the city of the future, in partnership with the media outlets L’Agefi and ID l’Info Durable.
During the third workshop of this working group, an energy infrastructure project was presented. The project aims to produce green energy based on gas capture within decommissioned coal mines.
“We pay close attention to the social aspects and the impact on local communities of the energy transition projects we finance,” confirms Shirley Chojnacki, Head of Infrastructure Energy Investments at Edmond de Rothschild Asset Management. Regarding renewable energy projects, the manager has invested, among others, in solar power production, onshore and offshore wind, as well as biomass and biogas projects.
“This more specific project of capturing gas from former mines in northern France and Wallonia appeared extremely virtuous to us because it has a dual effect: not only through renewable energy production but also through the capture of methane that would otherwise escape into the atmosphere,” adds Shirley Chojnacki. The challenge is significant in terms of limiting global warming, as methane has a greenhouse gas effect 80 times greater than CO2 over a ten-year period.
Generating green electricity and gas
Specifically, this project involves installing cogeneration units on former coal mines. Decompression wells have been placed throughout the network of abandoned mine galleries, which extends over 100,000 kilometers in northern France.
“Capturing this methane at the outlet allows us to generate green electricity, benefiting from a regulated tariff set by the French state for a duration of fifteen years, produce green gas distributed through the GRT Gaz network, and also generate green heat for local communities through a long-term contract with the city of Béthune,” explains Shirley Chojnacki.
Edmond de Rothschild participated in this project via a bond issuance with the French Energy Company (FDE). This bond was issued in 2021 with the purpose of deploying more cogeneration units at gas capture sites in mines. This bond was subsequently extended with additional debt. “Today, we have invested nearly €85 million with FDE, not only for this project but also for others in different countries and with different technologies,” notes Shirley Chojnacki.
Content written by Florent Berthat.
