Macquarie Capital acquires biogas project in UK

BioCow's Ellough AD Plant. Source: BioCow

May 27 (Renewables Now) - Macquarie Capital Principal Finance said this week it has acquired a majority holding in a greenfield anaerobic digestion (AD) project, Evercreech Renewable Energy Ltd, in the UK.

Its investment will fund the construction of the Evercreech plant in Somerset, in the South West of England. The facility is scheduled to start feeding green gas into the UK’s national gas network by early 2022.

The financial terms of the deal were not disclosed.

The acquisition boosts Macquarie Capital’s UK biogas platform Adapt Biogas, doubling its capacity of gas to grid biomethane and making it capable of meeting the annual gas consumption of more than 5,600 UK homes.

Macquarie Capital purchased in 2019 a majority stake in UK biogas producer BioCow, which has relaunched as Adapt Biogas.

Patrick Ottersbach, a managing director at Macquarie Capital Principal Finance, said adding the Evercreech facility to the platform is a step towards “becoming an important part of a growing sector that is expected to play a critical role in the UK’s plans to reach net zero.”

The Evercreech plant is expected to save 95,000 tonnes of food waste from landfill a year, offering a less carbon-intensive waste disposal service to local residents and more than 400 local dairy, brewing and baking businesses.

Macquarie Capital Principal Finance is the principal investment business of Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Australia's Macquarie Group Ltd (ASX:MQG).

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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