One million houses are now being powered by green energy as a result of anaerobic digestion (AD) projects funded by a finance specialist in climate change reduction financing.
The projects generate a total of more than 1.3 TerraWatts of energy per year, meaning each day they generate 3.5 GW, which translates to about 1 million homes powered, based on average household energy usage.
Chris Winward, chief commercial officer, Privilege Finance, said: “When we look at this in terms of carbon emissions reduction, the plants are collectively saving the equivalent of 1.48 million metric tonnes of CO2 each year.
“This is achieved by diverting 503,345 metric tonnes of waste, the equivalent of more than 70,000 lorry loads, away from landfill each year.
“By processing waste to generate biogas, we are avoiding this, while also replacing demand for non-renewable sources of energy, such as fossil fuels.
“Enabling projects that will reduce climate change is at the centre of what we do. This year we are delighted to be actively financing projects which will have a positive impact by reducing carbon in the atmosphere.
“This will be a perfect example of how a circular economy can work, with waste being a valuable material used to generate power.”