UK GIB backs 2.2-MW anaerobic digestion plant

A 2.2-MW anaerobic digestion (AD) plant in Nottinghamshire, England has secured a GBP-13.2-million (USD 17.3m/EUR 15.8m) investment, half of which from a fund backed by the UK Green Investment Bank plc (GIB).

The Recycling and Waste LP (RAW) Fund, which is managed by Foresight Group and in which GIB is a cornerstone investor, has committed GBP 6.6 million to the project, Foresight said on Thursday. SQN Asset Finance Income Fund is providing a matching co-investment.

The combined heat and power (CHP) plant, located at Stud Farm in Rufford, is currently under construction, with completion expected in the fourth quarter of 2016. Developer and operator of the project is Future Biogas Ltd.

The facility will use poultry litter, straw and other agricultural feedstock from nearby farms and will supply electricity and heat to local businesses. Any surplus power will be fed into the UK grid.

"Anaerobic digestion is widely recognised as one of the most effective ways of processing organic waste. AD facilities have an important role to play in the development of a circular economy in the UK," said Edward Northam, GIB head of investment banking.

(GBP 1.0 = USD 1.313/EUR 1.194)

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