January 10 (Renewables Now) - Private equity firm Foresight Group said on Tuesday it has closed the acquisition of a 2.8-MW portfolio of two anaerobic digestion (AD) plants in East Anglia and the East Midlands, England.
The purchase of seven composting facilities was also part of the transaction, the value of which was not disclosed. Having a capacity to process over 95,000 tonnes of agricultural, industrial and commercial food waste each year, the AD plants generate electricity and 450 cu m (15,892 cu ft) per hour of biomethane. Meanwhile, the composing facilities can make around 100,000 tonnes of compost per year by processing over 155,000 tonnes of waste products, mainly green waste.
As a result of the deal, Foresight has awarded long-term feedstock supply, digestate offtake and management and maintenance services contracts for the new assets to recycling solutions provider Material Change Ltd.
Foresight has so far invested in 18 greenfield projects in the UK with a combined capacity of 16.7 MWe. The private equity firm, which also has 1.2 GW of solar assets under management, has invested in 40 waste-to-energy projects totalling 137 MW. Once fully operational, those plants are seen to help save more than 750,000 tonnes of carbon dioxide (CO2) emissions annually.