Investment firm Eternity Capital has signed a £9.6m deal for the building of a gas and electricity to grid anaerobic digestion (AD) plant in Fraddon, Cornwall.
Eternity Capital said the facility will be one of the first few in the UK to produce biomethane alongside electricity, which maximises the energy production form the AD process.
Gas and electricity will be injected into the grids and supply the equivalent of over 2,500 homes each year.
The plant will be able to treat both food and agricultural waste.
Alon Laniado, director at Eternity Capital, said: “Eternity Capital is excited to fund this AD facility which contributes to meeting the twin needs of waste treatment and renewable energy production, using an efficient AD process.”
The group Greener for Life will develop and operate the plant, while F.L.I. Energy will design and build the plant under the Engineer, Procure, Construct contract.
Laniado added: “This is Eternity’s second energy from waste investment and reflects Eternity Capital’s strategy to invest in a portfolio of such projects, as part of its wider investment focus on waste and environmental services.”
Eternity Capital, alongside a consortium of investors and the Green Investment Bank, has funded the development of a gasification venture in Birmingham.
- Alon Laniado told MRW why a growing number of investors are now looking to invest in the waste sector.