Foresight acquires anaerobic digestion plant portfolio.
Foresight Group LLP has announced the acquisition of two large scale anaerobic digestion plants (‘AD’) as part of the sale of Strutt & Parker (Farms) Limited.
The Euston and Bay Farm plants are located in Thetford and Newmarket, UK. In combination, the plants will produce around 95 000 MWh of power per annum, which is the energy equivalent of powering 30 000 homes in the UK. Both plants are fully operational with remaining operating lives of 17 and 18 years respectively. On an annual basis, the portfolio will offset approximately 10 700 t of CO2 compared electricity generated from coal. Further investment in the sites will capture all of the CO2 which will be suitable for use in drinks manufacture.
Foresight has established a market leading position in AD having previously invested into 35 greenfield and operational AD plants across the UK and Europe. The transaction is a demonstration of Foresight’s ongoing appetite to aggregate operational AD assets. This acquisition consolidates Foresight’s strong market position in the UK and enables it to continue to export the team’s deep sector experience to Europe, Australia, North America and beyond.
The transaction is a continuation of the partnership between Foresight and Material Change Ltd and its parent company Heathpatch Ltd. As part of the deal, Material Change has entered into long term feedstock supply, digestate offtake, and management and maintenance services contracts, while Heathpatch are equity investors in the projects. Material Change now provides services to 7 AD sites and sources over 250 000 t of waste and grown crop feedstock to the plants and returns 300 000 t of organic matter to land from its composting and AD businesses.