Foresight Group has announced the completion of the acquisition of an operational anaerobic digestion (AD) plant on the Isle of Wight for an undisclosed sum.
The 24 acre site at Arreton has a CHP plant to provide 250kW of electrical power generation capacity to power the facility (and related waste heat use), c.580 Sm3 (standard cubic metres) per hour of biomethane export capacity to grid (plus related 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 has established a market leading position in AD having previously invested into 20 greenfield and operational AD plants across the UK and an additional five operational plants in Germany with a combined capacity of 36.5MW.
The transaction is a demonstration of Foresight’s appetite to aggregate operational AD assets following the acquisitions of two assets in East Anglia and five assets in Germany earlier in the year. This acquisition consolidates Foresight’s Bio-Energy 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.
Charlie Sheldon, Foresight Group said: “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.”
Source: Company Press Release