MEMBER PRESS RELEASE – One million UK homes powered by green gas
One million houses are now being powered by green energy, as a result of anaerobic digestion (AD) projects funded by Privilege Finance specialists in climate change reduction financing.
The projects generate a total of over 1.3 TerraWatts of energy per year, meaning each day they generate 3.5 GW, which translates to approximately 1 million homes powered, based on average household energy usage.
Chris Winward, chief commercial officer explains how the projects are also reducing greenhouse gas emissions into the atmosphere, and so 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 metric tonnes of CO2 each year,” he says.
“This is achieved by diverting 503,345 metric tonnes of waste, the equivalent of over 70,000 lorry loads, away from landfill each year.”
Chris explains that in landfill, waste materials release methane directly into the atmosphere.
“By processing waste to generate biogas, we are avoiding this, while also replacing demand for non-renewable sources of energy, such as fossil fuels,” he says.
However, the trend of the climate becoming hotter is yet to stopped, which is why Privilege Finance remain 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.”
In addition, Chris shares that they are currently funding a project which will produce enough green gas to power every home in the local community.
“This will be a perfect example of how a circular economy can work, with waste being a valuable material used to generate power,” he concludes.