Successful $117 million bond financing for biogas plant
Canadian resource recovery specialist Anaergia announced the successful issuing of bonds as part of the funding for its Rialto Bioenergy Facility (RBF).
In December, Bioenergy Insight reported that construction had begun for ‘North America’s largest’ organic waste-to-energy plant in Rialto, a city 50 miles east of Los Angeles, California.
The RBF is estimated to be able to convert 700 tons of food per day and 300 tons of biosolids per day into renewable natural gas, renewable electricity and class A organic fertiliser.
The amount of tax-exempt bonds issued by the California Pollution Control Financing Authority for the RBF totalled at $117 million (€103 million). According to Anaergia, this is a significant majority of the $160 million (€141 million) of total capital for the commissioning and construction of the facility.
“The successful bond financing for the RBF is a major signal of the strength of our partnerships,” said Andrew Benedek, Anaergia CEO.
“It also reflects the need for more organics recycling infrastructure in California, as well as our ability to deliver robust and replicable organics recycling solutions here, and elsewhere, through public-private-partnerships.”
The facility is set to begin operations in the third quarter of 2020.