- Privilege Finance has entered long term partnership with Investec
- Financing to support funding of anaerobic digestion (AD) projects in the UK
- GBP 30 million of finance already deployed in AD sector
Prestige Funds’ dedicated, specialist Finance Arranger – Privilege Finance has entered into a long-term partnership with Investec Bank plc (“Investec”) which will release up to GBP 90 million worth of funds for UK climate change projects with approximately GBP 30 million already arranged to date.
The funding will be offered to existing anaerobic digestion (AD) plant customers to refinance their projects as they hit operations, providing interest savings to borrowers and freeing up Privilege Finance’s capital to be reinvested, accelerating the deployment of new funding for new climate change projects.
Established in 2001, Privilege Finance has deployed more than GBP 500 million* to build 40 AD facilities. These generate a combination of renewable electricity, heat and biomethane gas to produce over 3.5GW of energy per day.
Stefan Rattensperger, from Investec’s Power and Infrastructure Finance team, commented: “By using the funds from Investec to refinance projects after the initial project finance phase, Privilege Finance will be able to redeploy the money to allow investment in additional renewable energy or carbon reduction projects.”
Privilege Finance acts as the loan arranger for several Prestige Funds in the fast-growing AD power sector in the UK. An estimated million plus UK homes now receive green energy from plants that have been financed by Privilege. AD technology is an important part of the UK’s strategy to achieve net zero emissions by 2050.
To read the full Press Release please click here.