One million UK homes powered by Privilege Finance’s AD projects
The projects generate a total of more than 1.3 terawatts of energy per year, meaning each day they generate 3.5 GW, translating to approximately 1 million homes powered based on average household energy usage.
Chris Winward, chief commercial officer, explained how the projects are also reducing greenhouse gas (GHG) emissions, contributing to climate change reduction efforts.
“When we look at this in terms of carbon emissions reduction, the plants are collectively saving the equivalent of 1.48 million tonnes of CO2 each year,” said Winward. “This is achieved by diverting 503,345 tonnes of waste, the equivalent of over 70,000 lorry loads, away from landfill each year.
“By processing waste to generate biogas, we are avoiding this, while also replacing demand for non-renewable sources of energy, such as fossil fuels.”
While significant progress has been made, the threat of climate change is still present, which is why Privilege remains committed to investing in green projects.
“Enabling projects that will reduce climate change is at the centre of what we do. This year we are delighted to be actively financing projects which will have a positive impact by reducing carbon in the atmosphere.”
Privilege is currently funding a project which will produce enough green gas to power every home in the local community. Winward said the project will be a “perfect example” of how a circular economy can work, with waste being a valuable material used to generate power.