Investment worth £90 million has been announced by Privilege Finance to fund waste-to-energy projects in the UK this year.
The 11 facilities will have a total capacity of 14MW, generating enough electricity to power around 28,000 homes.
Chris Winward, Commercial Director at Privilege Finance, said the investment is linked to the government’s Renewable Heat Incentive (RHI) scheme, which offer payments for biomethane injected into the grid.
He added: “Developers had been waiting to see if RHI would be guaranteed, so there’s been a surge of new projects since the decision to restore tariff guarantee to December 2016 levels. These projects are now required to be built and injecting gas into the grid by January 2021.
“As current legislation means that the RHI tariff guarantee will eventually be phased out, we’re ensuring future sustainability for the AD sector by moving beyond tariffs and looking for innovative projects that will generate income through alternative means, such as gate fees.”