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Foresight completes 2.5 MW biogas plant acquisition on Isle of Wight

UK-headed infrastructure and private equity investment manager Foresight Group LLP has announced that it has recently completed the acquisition of an operational 2.5 MW anaerobic digestion (AD) plant on the Isle of Wight for an undisclosed amount.

Commissioned in 2014 by Wight Energy, the 24-acre site at Arreton has the capacity to process over 50 000 tonnes per annum of energy crops whilst benefiting from Feed-In Tariff (FIT) and Renewable Heat Incentive (RHI) revenue.

The plant has a combined heat and power (CHP) plant to provide 250 kW of electrical power generation capacity to power the facility and related waste heat use, approximately 580 Nm3 per hour of biomethane export capacity to grid along with related carbon dioxide (CO2) sales and capacity to process in excess of 50,000 tonnes per annum of energy crops whilst benefiting from FIT and RHI revenue.

Foresight is working towards a market leading position in AD and the company says that the transaction is a “demonstration of Foresight’s appetite to aggregate operational AD assets” following the acquisitions of two assets in the UK and five assets in Germany earlier in the year.

This latest AD acquisition consolidates Foresight’s Bioenergy team’s strong market position in the UK and enables it to continue to export its deep sector experience to Europe, Australia, North America and beyond.

We are delighted to have completed the acquisition of this operational AD plant, our first on the Isle of Wight, which comprises the latest component in our growing AD portfolio. We look forward to making further acquisitions as part of our wider AD aggregation strategy, said Charlie Sheldon, Foresight Group LLP.

Facts

ABOUT FORESIGHT GROUP

Headquartered in London, UK, Foresight 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. The company has more than £2.5 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).

The Group currently manages more than £1.2 billion in some 75 operating Photovoltaic (PV) plants with a generating capacity of over 1.1 GW in the UK, Southern Europe, Australia and North America. In bioenergy, it has mobilised some £900 million of capital investment into 40 waste projects, which when fully operational will have a waste processing capacity of over 2 million tonnes per annum, diverting some 1 million tonnes of waste from landfill every year and generating 140 MW of clean energy.

Foresight also manages the AU$200 million Australian Bioenergy Fund (ABF) which targets investments ranging from AU$2m to AU$50m into energy from waste projects across the continent backed by a cornerstone investment from the Clean Energy Finance Corp (CEFC).

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