One million homes in the UK are now being powered by green energy, as a result of anaerobic digestion (AD) projects funded by dedicated, specialist Finance Arranger – Privilege Finance, the lending partner of Prestige Funds.
Based near Cambridge, UK, Privilege Finance manages the private debt and infrastructure lending portfolios of several Prestige Funds. Since 2012 it has invested over GBP 600m in both new builds and acquisition projects in renewable energy. Privilege already backs one of the largest portfolios of clean energy projects in the UK supporting, farm, food and agri related business in what is a very specialist financing market. It is recognised as an expert in the field of bringing biogas projects online and is an active member of the UK Anaerobic Digestion and Bioresources Association (ADBA).
The projects generate a total of approximately 1.3 TerraWatts of energy per year, meaning each day they generate approximately 3.5 GW, which translates to approximately 1 million homes powered, based on average household energy usage. The projects are also reducing greenhouse gas emissions into the atmosphere, and so contributing to climate change reduction efforts.
Chris Winward, Chief Commercial Officer at Privilege Finance, says: “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. This is achieved by diverting 503,345 metric tonnes of waste, the equivalent of over 70,000 lorry loads, away from landfill each year. By processing waste to generate biogas, we are avoiding this, while also replacing demand for non-renewable sources of energy, such as fossil fuels.”
The trend of the climate becoming hotter is yet to be stopped, which is why Prestige Funds and Privilege Finance remain committed to investing in green infrastructure projects.
Enabling projects that will reduce climate change is at the centre of what Privilege Finance does. This year we are delighted to be actively financing projects which will have a positive impact by reducing carbon in the atmosphere.”
Craig Reeves, Founder of Prestige group, says: “This marks profound progress on the part of our dedicated UK renewables infrastructure finance team – their technical expertise is starting to pay off with some excellent and measurable results, supporting the UK’s transition to a greener economy. Investors seeking fundamental, definable strategies that are making a positive contribution to the battle against climate change can see that at work here.”
Prestige operates two dedicated impact investing credit funds in this space with its oldest vehicle operating for over 12 years. In April 2021, Prestige will launch a third dedicated fund in this space and is targeting an exceptionally important part of the UK economy at a critical time in its ongoing development.
“Our portfolios often finance landowners who are taking food, farm and animal waste and turning it into bio-gas and electricity, projects in turn supported by the UK government,” says Reeves.
