£14.7 million biogas plant to be built in the UK

Financial provider Prestige Funds announced that it has concluded a £14.7 million (€17.09 million) funding deal to finance an anaerobic digestion (AD) plant in Kent, UK.

According to the release, the deal is the latest in a long series of financing agreements to fund AD facilities in the UK, which are helping farms and food businesses to process waste into energy.

The project is designed to generate up to 500m3/hr CH4 gas to grid (G2G).

“A large area of our focus in the private debt market has been on lending to farmers and to the agricultural business sector,” said Prestige Funds founder Craig Reeves.

“With many banks retreating from non-core areas of lending over the last 10 years, private finance sources have become essential for farms, food and agri groups that want to introduce green energy projects.”

The plant is estimated to take 16 months to build.