Vision Asset Finance is delighted to announce that it has secured an initial allocation of over £30m from London based Venture Capital Trusts for investment into the NI biogas sector.
With many local farmers and landowners currently investigating renewable energy as an alternative or supplementary source of income, Vision Asset Finance (VAF) is offering the funding through a Project Finance structure for farm based Anaerobic Digestion (AD) plants.
Trevor Finlay – Managing Director of VAF comments, “With the recent adjustment to the N. Ireland Renewables Obligation (NIRO), there is a real opportunity for farmers to significantly boost their income through investing in an AD plant and selling the power generated. With the expected introduction of a renewable heat incentive in the near future, there are likely to be further income streams possible in due course.”
With immediate access to £30 million of capital for qualifying AD projects, Mr Finlay is confident of VAF’s ability to assist many of the early adopters who have their projects approaching planning approval. He continues, “We are delighted to have secured access to such a significant tranche of funding for the AD sector in N. Ireland. Providing farmers with access to alternative sources of funding is important to ensure the AD opportunity receives adequate financial stimulus at the present time.”
Mr Finlay also suggests that it is important for farmers to consider financing requirements at an early stage. Long-term feedstock supply security is of paramount importance, as is the choice of a suitably qualified supplier of the construction and technology. The AD technology chosen should already have a proven track record and the supplier financially robust.
Vision Asset Finance offers Project Financing in conjunction with ‘Approved’ suppliers of AD technology; and subject to the projects meeting their funding criteria, offer up to 100% funding.
For further information call Trevor Finlay on 028 2565 6000