biogas

Tamar Energy secures £32 million funding from RBS for AD facility

Anaerobic digestion plant operator Tamar Energy has secured a landmark £32 million non-recourse project finance facility from the Royal Bank of Scotland (RBS).
Tamar Energy secures £32 million funding from RBS for AD facility

The funding is the first such financing facility in the AD industry. It is a seven-year financing facility that will enable Tamar Energy to refinance its five existing AD plants and build the next wave of plants scheduled in the company’s development pipeline.

Tamar’s existing plants, located in Hampshire, Lincolnshire, Nottinghamshire, Essex and Hertfordshire, have a combined capacity of 11 MW and generate baseload green energy from the processing of food, vegetable and agricultural organic waste. In October 2014 the company also secured permission for a sixth plant in Greater London.

“The RBS facility is a significant achievement for us, not only for being the first of its kind in the AD sector but also for its scale” said Dean Hislop, Tamar Energy’s Finance Director. “It’s a sign of confidence in Tamar Energy’s business model from a leading UK bank and enables us to drive our business forward at pace.”

Willie Heller, Chief Executive of Tamar Energy, added that the funding is a springboard to the company’s next phase of growth, demonstrating the increasing maturity of the commercial-scale AD sector. The funding provides the company with the resources and flexibility to consider all opportunities for growth as it continues to build out its project pipeline.

AD developers now being recognised as worthwhile investments in their own right without the need for additional assets to raise financing, according to UK Energy and Climate Change Minister Amber Rudd. It is an exciting moment for the industry, given that AD deployment has soared by over 200 percent since 2010. Continued growth of the AD sector is an important source of clean energy in the UK, as well as investment and jobs.   

Tamar Energy also recently signed a power purchase agreement (PPA) with EDF Energy for its first five AD plants. The first of these, at Basingstoke in Hampshire and Holbeach in Lincolnshire, started on the PPA terms in December 2014 and the other plants will follow in 2015.

For additional information:

Tamar Energy

Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).