Waste to energy
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
14 December 2015
UK Green Investment Bank plc (GIB) and Foresight Group LLP (Foresight) have today committed £1.7m to the construction of a £3.4m Anaerobic Digestion plant (AD) in Armagh, Northern Ireland.
The investment is being made through the Foresight-managed Recycling and Waste LP (RAW) fund, in which GIB is a cornerstone investor. SQN Capital Management will also invest £1.7m in the 0.5 MW plant, which will be built and operated by Northern Irish engineering company Williams Industrial Services.
The plant has been developed by a local farming family alongside KPMG (Belfast). Once operational, it is expected to generate around 3,600 MWh of renewable electricity – enough to power 850 homes – and save around 2,000 tonnes of CO2 per annum.
Silage, slurry, chicken litter and beet will be used to generate a biogas that will produce renewable electricity when combusted in a gas engine. The digestate produced by the plant – around 18,500 tonnes annually – will be used as fertiliser on local fields.
This is the third Northern Irish AD project that GIB and Foresight have funded, the others being located in County Tyrone and County Down.
Ed Northam
Head of Investment Banking, UK Green Investment Bank
Phil Kent
Director, Foresight
Neil Roberts
Director, SQN Capital Management
Media enquiries
Foresight Group has been managing investment funds on behalf of institutions and retail clients for 30 years. With a background in Private Equity and Venture Capital, Foresight has diversified activities and today manages institutional funds principally in European Infrastructure (Solar and PPP), Environmental and UK small cap Private Equity, including six years of specific Infrastructure experience.
Foresight has in excess of £1.5bn assets under management and boasts one of the UK’s leading environmental infrastructure investment teams which has helped mobilise capital investment of more than £0.5 billion in environmental assets including the £78m UKWREI and £50m RAW Fund mandates from the UK Government’s Green Investment Bank for UK environmental infrastructure and the recently announced £200m Bioenergy Infrastructure Group (BG) and the £60m Foresight Environmental Fund (FEF).