Foresight Group has completed investments in UK waste processing projects with a combined capacity of half a million tonnes annually.
The environmental infrastructure asset manager reached the 500,000 tonne capacity milestone late last year by completing investment in a £110m, 20.2MWe, 7.8MWth combined heat and power plant in Widnes.
The group runs two major funds, the UK Waste Resources and Energy Investments Fund (Ukwrei) for the the Green Investment Bank (GIB), and the Foresight Environmental Fund (Fef).
It has now invested £130m in 12 environmental projects, of which three are operational and the rest under construction.
Projects within the group’s portfolio include:
- Large-scale recovered wood facilities in Widnes, Evermore and Birmingham.
- London’s first operational utility scale anaerobic digestion (AD) plant in Dagenham
- Smaller-scale £3m on-farm AD plants in Northern Ireland
- Plastics recycling facilities such as PlasRecycle
- The UK’s first plastic bag and plastic film recycling facility in south east London
Foresight partner and head of environmental Nigel Aitchison said the remit from it two institutional environmental funds had:
- created new capacity
- diverted waste from landfill
- reduced CO2 emissions
- created new and sustainable jobs
- delivered a suitable commercial return for our investors
He added: “Getting to the point where we have been able to demonstrate that new capacity is under construction is a great achievement.
“Our projects will be contributing more than 50MW of renewable electricity when the last of the facilities comes on line in late 2016, diverting more than 500,000 tonnes of waste from landfill every year, and creating in excess of 800 construction and full time jobs in this dynamic emerging sector.”
“We have a pipeline of projects both large and small and our institutional investors we believe have an increasing appetite to do more in this space. We therefore expect to see 2015 as being as productive as 2014.”