Downing LLP today announces the sale of Redstow Renewables Ltd (“Redstow”), an Anaerobic Digestion plant in Norfolk, UK, to Bio Capital Limited (“Bio Capital”). The plant, built with funding provided by Downing managed funds, commenced operations in 2015 and has a total capacity of 4.5MW Combined Heat and Power (CHP).
Redstow processes c.75,000 tonnes of energy crop per annum to produce biogas, which is used to generate and sell renewable electricity under the Feed in Tariff regime or used in driers under the Renewable Heat Incentive scheme.
In 2018, a private wire was developed which connected the site to RAF Marham, a local RAF station. Home to the squadrons of the RAF’s Tornado Force, RAF Marham became the first British military base to run nearly entirely on green electricity. Over 95% of its electricity is now provided by Redstow. See more on the story here.
The buyer, Bio Capital, is a platform for investments in the Anaerobic Digestion sector in the UK and was co-founded as a joint venture between Helios and Equitix.
Tom Williams, Head of Energy and Infrastructure says: “The sale of Redstow marks the latest asset exit of a series of plants developed with Future Biogas, each of which has returned a good outcome for investors. The creation of the private wire to RAF Marham, in particular, was a novel and challenging project to be involved in and we are particularly pleased to be contributing to efforts to transition the RAF to a greener future. We are delighted to be selling to Bio Capital, who will continue to oversee the impressive work and output that is produced at Redstow.”
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