Equity management firm boosts UK AD portfolio

Independent private equity investment management firm Foresight has boosted its waste processing portfolio to over 2 million tonnes per annum with the acquisition of two large scale anaerobic digestion (AD facilities) and seven composting assets. The fee for the transaction has not been disclosed.

The two facilities are located across East Anglia and the Midlands in the UK. Between them, the two plants generate 2.83MW of electrical power and related waste heat use, 450Sm3 (standard cubic metres) per hour of biomethane export capacity to grid, and capacity to process more than 95,000 tonnes of energy crops, agricultural waste and industrial/commercial food waste per year.

Foresight’s newly acquired composting site meanwhile, have capacity to process 155,000 tonnes a year of primarily green waste into approximately 100,000 tonnes of compost through open-windrow and in-vessel methods. Foresight’s portfolio now includes 40 waste projects.

Previously, the investment management firm has invested into 18 greenfield projects across the UK with a capacity of 16.7 MWe.

The transaction has seen the formation of a partnership between Foresight and Material Change and its parent company Heathpatch. As part of the deal, Material Change has entered into long term feedstock supply, digestate offtake and management & maintenance services contracts.

“We are delighted to have entered into this partnership with Foresight and look forward to developing and enhancing the acquired sites and also to acquiring further sites and assets,” Charles Course, Material Change and Heathpatch said.

“We hope that the combination of Foresight’s expertise, and our knowledge and experience in agriculture, waste processing, AD development and operation will make us a first choice for anyone considering the sale, or enhancement, of AD assets.”

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