Waga Energy secures C$25M loan to refinance RNG production units in Canada

On July 3, 2025, Waga Energy, a leader in Renewable Natural Gas (RNG) production from landfill sites, has secured a C$25 million project finance loan from financial services companies Equitable and The Empire Life Insurance Company. This 19-year term loan will be used to refinance the three WAGABOX units currently operating in Saint-Étienne-des-Grés, Chicoutimi, and Cowansville (Québec), which represent a cumulative installed capacity of 185 GWh (666 TJ) per year. The financing will be used to repay construction debt and strengthen the Group’s cash position, with the aim of supporting the development of new RNG production projects in Canada and internationally. 

Waga Energy, which was founded in 2015, produces competitively priced Renewable Natural Gas (RNG, also known as biomethane) by upgrading landfill gas using a patented purification technology called WAGABOX and currently operates 31 RNG production units in France, Spain, Canada and the USA.

McCarthy Tétrault advised Wage Energy with a team led by Jacob Stone that included Annie Gagnon-Larocque, Rafaella Arapovic (Real Property and Planning), Julie Belley Perron (Environmental), Etienne Guertin, Alexandre Desmarais, Maxime Bellerose (Financial Services), Thierry Côté, Ruo Lan Wang, Karl Bherer and Bronté Anderson (Business).