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The first project the UK Green Investment Bank (UK GIB) invested in, an anaerobic digestion plant in London, has opened and is generating electricity.
The £13 million TEG Biogas plant in Dagenham was completed on time and on budget, and was officially opened yesterday by business secretary Vince Cable.
The plant is London’s first commercial-scale anaerobic digestion and composting facility, and it will produce 1.4MW of electricity per year.
Residual heat produced by the plant, which equates to about 1.15MW, will be used by a neighbouring plastic bottle recycling facility.
Back in 2012, the UK Waste Resources and Energy Investments (UKWREI) fund, in which the UK GIB is a cornerstone investor, invested £2 million in the project.
The Foresight Environmental Fund led the project with a £9 million investment, while the remaining £2 million was provided by private sector investors.
Shaun Kingsbury, UK GIB chief executive, said: “The project is an important first for London and provides a positive demonstration of a fully integrated renewable energy and waste management project.
“The anaerobic digestion and composting facility will see waste, which could have been sent to landfill, now being used to create renewable energy and heat as well as compost and digestate for the agricultural sector.”
Business secretary Vince Cable added: “This plant provides a cutting edge, environmentally friendly way to manage London’s waste and generate power.”
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