Operis provided a formal model audit in support of the refinancing of 5 UK based anaerobic digestion plants by Bio Capital. This was part of a larger body of work Operis has undertaken for Bio Capital, which includes model development and several more model audits.
The refinancing involved debt of £75 million being provided jointly by NatWest, Allied Irish Bank and Banco de Sabadell. The project refinanced the debt on 5 project companies partly or wholly owned by Bio Capital – Earnside Energy, East London Biogas, Energen Biogas, Emerald Biogas, Granville Ecopark. The projects have a combined capacity of 24 MWh.
Bio Capital is a joint venture between Helios Investments and Equitix that was founded in 2018 to invest in anaerobic digestion plants within the UK. Anaerobic digestion plants provide electricity by producing methane from the breakdown of biodegradable materials. This renewable energy reduces fossil fuel consumption and captures methane before it degrades naturally from the biomass, methane is a strong greenhouse gas so anaerobic digestion plants help reduce global warming in two ways.