According to a recent announcement, the UK Green Investment Bank (GIB) plans to invest in a new £15 million waste-to-energy facility in London, the facility will generate 7,400 MWh of renewable electricity each year, enough to power 1,750 homes.
The anaerobic digestion (AD) plant in Enfield, north London, will convert food waste from the capitals hotels, restaurants and retailers into renewable energy and compost.
The Green Investment Bank has confirmed that Foresight, one of its fund managers, has made a £7.5 million commitment to the plant, which is being developed by D Williams & Co Limited at Cattlegate Farm.
The AD plant will have a capacity of 1.2MW, and will convert around 30,000 tonnes of food waste that would have otherwise been sent to landfill into enough electricity for an estimated 1,750 homes.
An adjacent composting facility will process garden waste from homes across London and the Northern Home Counties.
Construction is expected to begin in June and the plant is expected to be operational in two years’ time. The Cattlegate Farm facility is the second AD plant funded by the Green Investment Bank and Foresight, after the TEG Biogas plant in Dagenham opened in April.
The government backed Green Investment Bank published a report on the growth opportunities for the UK’s AD sector last year and forecast further growth.
The Bank has targeted investment in facilities in Northern Ireland where the subsidy regime is more generous.
Shaun Kingsbury, Green Investment Bank chief executive said in a statement:
“Today’s announcement provides another demonstration of the attractiveness of anaerobic digestion infrastructure as an investment opportunity. We are seeing real momentum in the commercial deployment of this technology which, I hope, will see further growth in the year ahead.”
Business Secretary Vince Cable said:
“The UK has the potential to become a world leader in this kind of technology and the Green Investment Bank (GIB) is playing its part.
“This new plant will mean less of our waste going to landfill, less reliance on fossil fuels for energy generation and provides compost for the farmers whose land it is built on.
“Through our industrial strategy we are working in partnership with business to give companies the confidence to invest, securing green jobs and a stronger economy.”
Matthew Pencharz, the Mayor of London’s Senior Energy & Environment Adviser said:
“This innovative facility is turning food and garden waste into two much needed resources – energy and cheap fertiliser. I want to see more of these dynamic initiatives mirrored across the city, which boost the environment and put the capital at the forefront of the waste and recycling sector. This truly demonstrates that investment in London’s Cleantech Industries can deliver real savings, jobs and growth for London.”