Iona Capital has financed the construction and operations of a new 8.8MWt anaerobic digestion plant in Dumfries and Galloway, Scotland.
The plant has pre-qualified under the Non-Domestic Renewable Heat Incentive (RHI). The principal feedstock will be waste slurries generated from local dairy and beef farming operations.
The plant is being built by Bioconstruct GmbH. The biomethane will be injected into the local gas distribution network, owned by Scotia Gas Networks.
Since its launch in 2011, Iona has financed 21 renewable energy projects in England, Scotland and Wales, all of which supply energy to the local grid networks. This latest project follows on from two earlier successful biomethane to grid projects completed in Scotland at Keithick and St Boswells.
The investment has been made from Iona Capital’s LP3 Environmental Infrastructure Fund which was launched to invest in sustainable bio-energy projects across the UK. Iona Capital’s main investment focus is within the AD, energy-from-waste and CHP sectors, and its investors in its LP3 Fund include a number of local authority pension funds.