Partha Vasudev, vice president of waste & bioenergy at the UK’s Green Investment Bank (GIB) is to discuss the roll of anaerobic digestion and organic waste at the upcoming UK AD & Biogas 2014 conference.
“Anaerobic digestion is an exciting market for the Green Investment Bank. The technology is at the core of government waste policy, and with a good pipeline of projects it can help us meet our investment goals and accelerate investment in the green economy,” said Partha.
The bank has identified waste as a priority sector for its investment, and highlighted the potential for anaerobic digestion to deliver against the its mandate to deliver sustainable green growth.
According to the GIB, anaerobic digestion capacity that is already ‘available to be developed’ requires investment of around £650 million. However, the bank said that it would provide support with the investment that would make a significant difference to the UK’s AD infrastructure and the speed at which it develops.
The bank’s investment funds have already committed a combined £10 million to the recently complete TEG AD plant in Dagenham, East London and Earthly Energy’s Teeside AD plant, where construction began in March 2013.
“The strong growth in the marketplace over the last year is exciting and we look forward to working with the industry to achieve its potential,” added Vasudev.
Charlotte Morton, chief executive of the Anaerobic Digestion and Biogas Association (ADBA) said that she was pleased that the Green Investment Bank be presenting at UK AD & Biogas 2014.
“The bank has already made a hugely valuable contribution to the industry, through its early investments and its first market report, and we look forward to hearing how they have seen that market develop,” she said.
“In the future, there are huge opportunities to support the market more widely. The government’s response to the Ecosystem Markets Task Force recognised the key role that smaller AD plants can play in supporting climate-smart farming and confirmed that they ‘will work with WRAP and the Green Investment Bank to explore the financing of farm-scale AD projects at an aggregate level... both for equity investments and for debt financing,” continued Morton.
“Given the challenges facing smaller scale AD, GIB’s analysis of the market in general will be fascinating,” concluded the chief executive.
UK AD & Biogas 2014 which will be held on 2-3 July at the NEC Birmingham.
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