More than £13 million in funding has been committed to a new anaerobic digestion (AD) plant in Nottinghamshire that will generate renewable energy.
The new facility at Stud Farm in Rufford will use poultry litter, straw, and other agricultural feedstock from adjacent farms to fuel a combined heat and power (CHP) plant, supplying electricity and heat to local businesses. Any surplus electricity will be supplied to the UK grid.
Construction of the 2.2 MW facility, to be developed and operated by Future Biogas Limited is now underway with an anticipated completion of Q4 2016. Technology providers on the project include Thöni for the AD plant and Clarke Energy for the CHP,
The Foresight-managed Recycling and Waste LP (RAW) Fund, in which UK Green Investment Bank plc (GIB) is a cornerstone investor, has committed £6.6 million to the project, with SQN Asset Finance Income Fund matching that sum to take the total investment in the project to £13.2 million.
The RAW fund was launched in February last year to provide direct funding towards small-scale recycling and waste projects around the UK.
Edward Northam, Head of Investment Banking, UK Green Investment Bank, said:
“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.”
The facility is expected to generate approximately 16,300 MWh of renewable electricity each year, sufficient to power nearly 4,000 households, while cutting greenhouse gas emissions by approximately 6,900 tonnes of CO2 equivalent per annum, equivalent to removing 3,200 cars from the road for the lifetime of the project.
The plant will also generate 16,000 tonnes per annum of a recycled digestate by-product, to be used as compost on local farms. All of the facility’s feedstock will be sourced locally.
Foresight has £1.9 billion of assets under management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
Foresight manages the £78m UKWREI and £50m RAW Fund mandates from the UK Government’s Green Investment Bank for UK environmental infrastructure, the £200m Bioenergy Infrastructure Group (BIG), the £25m Foresight AD EIS Fund, the £60m Foresight Environmental Fund (FEF).and was recently appointed by the Australian Clean Energy Finance Corporation (CEFC) to manage the A$200m Australia Bioenergy Fund (ABF).
Commenting on the scheme, Nigel Aitchison, Partner, Foresight, said:
“At Foresight we are continuing to find attractive small-scale AD projects that are making a lasting difference to the communities they serve while generating attractive returns for our investors.”
Neil Roberts, Managing Director, SQN Capital Management, added:
“Since the SQN Fund’s IPO in July 2014, renewable projects have formed a meaningful part of our diversified portfolio. This is our fourth joint financing with the RAW fund which fit well with our key investment criteria of financing business essential, revenue earning assets with high in place value.
Attendees at next month’s National Civils Show, Floodex, National Drainage Show and Waterways Management on 26th and 27th November are set to benefit from an expert speaker line-up and the opportunity to visit a wide range of exhibitors all co-located in one place at Excel, London, one of the UK’s leading international exhibition and convention centres.
Tackling leakage is one of the fastest and most cost-effective ways for utilities to bolster water security, writes Ben Crabtree, Product Line Director, Ovarro, revealing how the potential of smart technologies is being demonstrated around the world.
UK-headquartered South Staffordshire Plc, the integrated services group operating within the UK critical infrastructure and essential services markets, has received a prestigious Royal Society for the Prevention of Accidents (RoSPA) Award for global health and safety excellence.
Balfour Beatty, the UK’s largest construction and infrastructure provider, has delivered exceptional environmental results on the Thames Estuary Asset Management 2100 (TEAM2100) framework, one of the nation’s most ambitious flood defence initiatives.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video. 
What is to be done about the UK’s failing utilities? Listen to Professor Dieter Helm explore the options to tackle the UK’s failing utilities – Thames Water, the Royal Mail and Network Rail in particular.