Macquarie Capital acquires major UK AD project
Macquarie Capital’s investment will fund the end-to-end construction of the plant, which is expected to begin injecting green gas into the UK’s national gas network by early next year.
It will become part of the company’s existing Adapt Biogas portfolio, doubling its capacity of gas-to-grid biomethane. The combined portfolio will produce enough energy to cover the annual gas consumption of over 5,600 UK homes.
The Evercreech facility will be constructed on an industrial estate in Somerset in South West England, supporting the nearby residential population, as well as more than 400 local dairy, brewing and baking manufacturers with a less carbon-intensive waste disposal service.
Once fully operational, the plant is expected to save 95,000 tonnes of food waste from going to landfill each year, equivalent to the food waste produced by more than 400,000 UK homes annually.
“We have been at the forefront of financing innovative developments in the AD sector since establishing our platform in late 2019,” said Patrick Ottersbach, managing director at Macquarie Capital.
“Since then, we have supported Adapt Biogas by providing our expertise and the capital they need to achieve their growth ambitions. The addition of the Evercreech plant to the platform is a significant step towards realising those ambitions, and becoming an important part of a growing sector that is expected to play a critical role in the UK’s plans to reach net-zero.”