A company that aims to develop a UK network of more than 40 anaerobic digestion plants was launched today with £65m worth of backing.
Tamar Energy, which is focused on producing energy from organic waste matter, expects to generate 100MW of electricity over the next five years from its anaerobic digestion (AD) plants.
According to a statement, AD converts organic waste into energy and is claimed to provide added benefits that include delivering predictable base load electricity locally. AD also reduces waste that would be sent to landfill and can provide fertiliser for agriculture.
The investor group is led by RIT Capital Partners and Fajr Capital, alongside the Duchy of Cornwall, Lord Rothschild’s Family Interests, Sustainable Technology Investments, Low Carbon Limited, the management team of Tamar Energy and other private investors.
As well as investing in the project, Sainsbury’s is also the strategic partner, providing its experience as the UK’s leading retail user of AD.
In a statement, Edward Davey, energy and climate change secretary, said: ‘This is the sort of project that will be crucial for keeping the lights on and emissions down in the UK in the coming decades.
‘Getting new investors to come into the clean energy market is one of my priorities. The consortium behind Tamar is a prime example of this, combining familiar high-street names with big international investors.
‘Energy from waste has the potential to make a substantial contribution to our renewable energy targets and so I look forward to seeing Tamar’s plans come to fruition.’