Prestige Funds, a leading private finance supplier to UK agriculture, SMEs and clean energy markets, has agreed £22.7m to fund the construction of an anaerobic digestion biogas plant. The North East based plant will use feedstock from farms in the Newcastle, Sunderland and Gateshead area.
The development is one of a series of anaerobic digestion plants financed by Prestige Funds, with over £60m of lending into the sector this year. The finance provider also says that the number of biogas plants has grown significantly over the last six years, with over 500 now operational in the UK. It also says that policy reforms are expected to bring up to £300m of investment to the sector in the UK this year.
Energy expert view
“Great to see the potential for biogas and anaerobic digestion being developed and with significant further investment in the sector expected to come forward over the coming year(s).” Alastair Fells MEI, Incorporated Eng, PG Dip Fuel Tech, BSc Hons