The 67 acre King’s Cross estate is to switch to green gas, in a deal agreed with Iona Capital, to provide its heat and hot water for its 2,000 homes, 5 million square ft of offices, retail and dining space.
The deal, which has been facilitated and managed by Optimised Energy, will see an Iona Capital owned plant in Scotland supply 40,000MWh of green gas each year to King’s Cross. The plant generates green gas from an anaerobic digestion of farm animal slurries and residues.
King’s Cross will use the green gas to supply its on-site energy centre, operated by Metropolitan. Using combined heat & power engines Metropolitan Kings Cross will distribute heating, hot water and electricity to its occupiers and businesses.
The King’s Cross deal will support Iona Capital’s anaerobic digestor facility to expand its operations and enable further investment in the future of renewable energy. The deal has been independently certified by Green Gas Trading Limited to ensure that the gas is 100% renewable, whilst Optimised Energy will verify that the green gas is for the consumption of the King’s Cross estate only.
Alexander Todhunter, Investment Director at Iona Capital, said: “We are delighted that we’ve agreed this deal with King’s Cross to supply sustainable energy to a prime London development. This is part of a number of initiatives we are working on across our portfolio to deliver certified green energy direct to end users whilst giving long term energy price certainty for consumer and generator.”