ADBA PRESS RELEASE
Welcoming the opportunity to address the AD industry at the sector’s largest dedicated event, UK AD & Biogas 2014 (2-3 July), Partha Vasudev, Vice President Waste & Bioenergy, Green Investment Bank (GIB), has been confirmed a key speaker at the ADBA organised annual show. The Green Investment Bank has an important role to play in the uptake of AD in the UK. It invests in ‘UK projects which are both green and commercial’. The bank has identified waste as a priority sector for its investment, appreciating the potential for anaerobic digestion to deliver against the bank’s mandate to deliver sustainable green growth.
Anaerobic digestion is an exciting market for the Green Investment Bank. The technology is at the core of government waste policy, and with a good pipeline of projects it can help us meet our investment goals and accelerate investment in the green economy,
The strong growth in the marketplace over the last year is exciting and we look forward to working with the industry to achieve its potential.
GIB has identified that AD capacity already ‘available to be developed’ requires investment of around £650m, and GIB support in this investment would make a significant difference to the UK’s AD infrastructure and the speed at which it develops. The bank’s investment funds have already committed a combined £10m to TEG’s Dagenham AD plant – where build was completed this week – and Earthly Energy’s Teeside AD plant, where construction began in March 2013. The potential for further investment in both the waste and farming sectors is an exciting prospect.
Charlotte Morton, Chief Executive, ADBA, said:
I am delighted that the Green Investment Bank will be presenting at the industry event of the year, UK AD & Biogas 2014. The bank has already made a hugely valuable contribution to the industry, through its early investments and its first market report, and we look forward to hearing how they have seen that market develop.
In the future, there are huge opportunities to support the market more widely. The government’s response to the Ecosystem Markets Task Force recognised the key role that smaller AD plants can play in supporting climate-smart farming and confirmed that they ‘will work with WRAP and the Green Investment Bank to explore the financing of farm-scale AD projects at an aggregate level… both for equity investments and for debt financing.’
Given the challenges facing smaller scale AD, GIB’s analysis of the market in general will be fascinating.
The anaerobic digestion and biogas industry looks forward to the annual exhibition and conference, UK AD & Biogas 2014 which will be held on 2-3 July at the NEC Birmingham.