January 8 (Renewables Now) - Private equity firm Foresight Group on Tuesday announced the purchase of a 2.5-MW combined heat and power anaerobic digestion (AD) plant in Norfolk, England.
The facility processes about 40,000 tonnes of agricultural feedstock a year, selling the power it produces to the grid under a feed-in tariff (FiT) contract, while also utilising on-site waste heat to secure revenue under the Renewable Heat Incentive (RHI).
As a result of the deal, Foresight has awarded long-term feedstock supply, digestate off-take and management and maintenance services contracts for the AD plant to recycling solutions provider Material Change Ltd. Material Change's parent, Heathpatch Ltd, holds an equity stake in the facility. The latest transaction is part of the AD and composting partnership between the three companies.
This is the sixth AD plant acquired through Foresight's AD aggregator platform. Foresight has a portfolio of 40 greenfield and operational AD facilities in the UK and Europe, with a capacity of 58 MW of clean power and 49 MW of thermal energy.