Waste and bioenergy
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
18 August 2016
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.
The Foresight-managed Recycling and Waste LP (RAW) Fund, in which UK Green Investment Bank plc (GIB) is a cornerstone investor, has committed £6.6m to the project, with SQN Asset Finance Income Fund matching that sum to take the total investment in the project to £13.2m.
The RAW fund was launched in February last year to provide direct funding towards small-scale recycling and waste projects around 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 bi-product, to be used as compost on local farms. All of the facility’s feedstock will be sourced locally.
Edward Northam
Head of Investment Banking, UK Green Investment Bank
Nigel Aitchison
Partner, Foresight
Neil Roberts
Managing Director, SQN Capital Management
Total GIB share of investment: £6.6m
Total investment: £13.2m
Co-investor: SQN Capital Management
Developer: Future Biogas Limited
Operator: Future Biogas Limited
Technology provider: Thöni for the AD plant and Clarke Energy for the CHP
Expected date of completion: Q4 2016
Media enquiries
Ben Thompson, Foresight Group: bthompson@foresightgroup.eu / 0203 667 8155
Foresight Group is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
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 boasts one of the UK’s leading environmental infrastructure investment teams comprising 18 investment professionals, which has led investment into c. £850 million of UK environmental assets with a waste processing capacity of more than 1 million tonnes per annum, creating 126MW of renewable energy capacity and saving more than 600,000 tonnes per annum of CO2 emissions.
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).
Foresight has offices in London, Rome, San Francisco, Sydney, Nottingham, Manchester and Guernsey.
Charles Ryland, Buchanan (for SQN Capital Management): charlesr@buchanan.uk.com / 0207 466 500
SQN Capital Management is an international multi-strategy investment manager with a focus on equipment leasing and asset finance for business-essential assets and projects in the £5m to £50m range. Through its various managed funds and accounts, SQN provides financing for capital intensive operations across a diverse array of industries including the Agricultural, Energy, Environmental, Manufacturing, Marine, Medical, Modular Accommodation, Technology, Telecommunication and Transportation.
