The sites are located across East Anglia and the East Midlands. Between them, the AD plants provide 2.8MW of electrical power generation capacity (and related waste heat use), 450 Sm3 (standard cubic metres) per hour of biomethane export capacity to grid (and related CO2 sales) and capacity to process in excess of 95,000 tonnes per annum of energy crops, agricultural waste and industrial/commercial food waste whilst also benefiting from FIT and RHI revenue. The composting sites have a capacity to accept in excess of 155,000 tonnes per annum of primarily green waste to produce circa 100,000 tonnes per annum of high quality compost using open-windrow (green waste) and in-vessel (green mixed with ABPR food waste) methods. The additional processing capacity means ForesightÂs portfolio of 40 waste projects boast a waste processing capacity of more than 2 million tonnes per annum.
Foresight has established a market leading position in AD having invested previously into 18 greenfield projects across the UK with a capacity of 16.7MWe and this secondary acquisition leverages off that experience to build upon ForesightÂs existing footprint. The transaction demonstrates ForesightÂs appetite to aggregate operational AD assets to enable it to consolidate its strong market position in the UK and to export its deep experience in the sector to Europe, Australia, North America and beyond.
The transaction has seen the formation of a partnership between Foresight and Material Change Ltd ("Material ChangeÂ) and its parent company Heathpatch Ltd ("HeathpatchÂ). As part of the deal, Material Change has entered into long term feedstock supply, digestate offtake and management & maintenance services contracts.