UK Green Investment Bank and Foresight Group have today committed £1.7m to the construction of 0.5MW anaerobic digestion plant in Armagh in Northern Ireland.
The investment is being made through the Foresight-managed Recycling and Waste LP (RAW) fund, in which GIB is a cornerstone investor.
SQN Capital Management will also invest £1.7m in the a £3.4m plant, which will be built and operated by Williams Industrial Services.
The plant has been developed by a local farming family alongside KPMG (Belfast).
Silage, slurry, chicken litter and beet will be used to generate a biogas that will produce the electricity when combusted in a gas engine.
The digestate produced by the plant – around 18,500 tonnes annually – will be used as fertiliser on local fields.
UK GIB head of investment banking Ed Northam said: “Investing in anaerobic digestion encourages rural businesses to be self-sufficient, reducing their reliance on fossil fuels and diverting organic waste from landfill.
“The process creates energy generators out of those who would otherwise just be energy users, giving them the ability to make money by exporting electricity and producing fertilisers while simultaneously saving them money. Northern Ireland has once again proven that it is awake to that opportunity.”
Image: Vortexrealm
GIB/Foresight back bio in N Ireland
Invest £1.7m in 0.5MW anaerobic digestion facility in Armagh
By EBS