Tamar Energy Limited, a company focused on producing energy from organic waste matter, has been launched, backed by a strong investor group who are contributing over £65m to establish the business.
Tamar Energy will develop a UK network of over forty Anaerobic Digestion (“AD”) plants to generate 100MW of green electricity over the next five years.
There is a significant opportunity for AD to play an increased role in the UK’s Green Energy market, where it is under-developed, with only 1 per cent of the number of plants in Germany.
AD delivers predictable base load electricity locally through plants with a low visual impact, reduces waste which would be sent to landfill and provides “green” fertilizer for agriculture.
The project brings together UK and international blue chip partners and investors whose input and expertise will be critical in developing the business.
Tamar Energy’s experienced management team will be headed by Alan Lovell as Executive Chairman. Mr Lovell was previously the Chief Executive of Infinis Limited, which produces some 10 per cent of the UK’s renewable energy, and over three years under Mr Lovell’s leadership grew to EBITDA of £75m.
The project was also endorsed by the UK government. Energy and Climate Change Secretary Edward Davey 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.”
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