November 21 (Renewables Now) - Renewables investor Leyline Renewable Capital will provide funds for two anaerobic digestion (AD) projects proposed by RNG Energy Solutions in Pennsylvania and New Jersey.
Leyline Renewable will provide bridge financing for the two schemes, it announced on Thursday, saying that in such transactions it provides capital for the pre-construction phase of the projects, including permitting, engineering, site analysis and securing interconnection agreements.
RNG Energy plans to install the AD facilities in Philadelphia, Pennsylvania and Linden, New Jersey, with each of them producing renewable natural gas that will be used as transportation fuel. Each plant will process up to 1,100 tonnes of organic waste daily to produce 3,000 dekatherms of renewable natural gas, which is roughly the energy value of 26,000 gallons of gasoline.
The Philadelphia facility, to be located at the site of a former oil refinery, will use as fuel organic waste from the Philadelphia metro region and produce renewable natural gas that will be injected into the Interstate Pipeline. The Linden plant, meanwhile, will use waste from the New Jersey and the New York metro area. The bio-methane produced by RNG Energy will be refined to pipeline quality gas.
According to the statement, the two plants will be among the largest carbon reduction facilities in each of the two states. "These projects are the backbone of the next-generation clean energy infrastructure needed to meet ambitious sustainability, waste reduction and renewable energy goals to combat climate change," said Erik Lensch, Leyline’s CEO.
Apart from AD projects, Leyline provides financing for solar and energy storage schemes. Last month, it secured USD 150 million (EUR 135.5m) from private equity firm Newlight Partners LP to expand its renewable energy investment portfolio.
(USD 1.0 = EUR 0.903)