Finance company Prestige Funds has loaned more than £100 million (€115.4 million) to biogas and anaerobic digestion (AD) projects in the UK over the last nine months. The financing is managed by Privilege Finance, which is part of the same group and a specialist in lending to UK agricultural businesses.
Privilege also offers technical consulting services to the management teams at biogas plants it is backing to help them remain profitable. This includes advice from leading specialists in the AD field. It has a 12-year record in the private debt market and remains one of the biggest providers of private finance to the UK biogas sector and a major provider of finance to on-farm energy projects.
“Prestige Funds has provided the financing for both new and existing clean energy projects in the UK this year, projects which are playing an important part in the UK’s transition to a greener economy,” said Craig Reeves, founder of Prestige Funds.
“Farmers and rural communities are now benefiting from cheaper energy from renewable sources thanks to these plants. Over 120,000 homes across the country are now receiving greener electricity as a result of our lending activities.”
Chris Winward, commercial director of Privilege Finance, added: “We have financed both new plants and existing projects which have required modernisation or expansion. There is a recognition in the UK at both national and local government levels that our farming and rural communities need to play a big role in providing their own clean energy. At Privilege, we are helping these businesses to make sure they meet best industry practices and stay financially viable.”