Green Impact Partners shares update on Iowa RNG Project
The Iowa RNG Project has secured long-term feedstock agreements with two dairies and is expected to generate approximately 800 MMBtu per day of RNG. The project will deliver its RNG into the California Low Carbon Fuel Standard and Renewable Identification Number markets.
GIP is now working to advance the final engineering, design and capital budget, as well as securing material permits, approvals, and financing.
Later this year, the company expects to add two sites to the Iowa RNG Project, which will nearly double the size of the project. GIP will provide a further update in the second quarter of this year (Q2), including the final size, capital costs, and a construction timeline. Construction is expected to start in Q2, with RNG production commencing in late 2023.
“As we move towards a final investment decision of another RNG project later this year, we are on our way to reaching our target of CA $1.5 billion (€917 million) in projects sanctioned by 2023,” said GIP’s CEO, Jesse Douglas.
“We have ambitious growth plans with sector-leading feedstock, technology, partners and projects within the RNG space, delivering a path to significant environmental, social, and financial gains.”
The Iowa RNG Project is expected to be similar to the GreenGas Colorado Project, which continues to be developed on budget and schedule, with commissioning starting in July and $19-21 million (€14.5-16 million) in annual EBITDA at full operation.
Additionally, GIP has unveiled a new visual identity, which the company said better reflects its purpose and inspired action.