This week was a great one for BioWatt but in truth even greater for the UK biogas industry. After working with agri.capital for more than 6 months, BioWatt is pleased to announce that we like what each other does and how we do it enough to have signed a Framework Agreement for the development of 50MW of biogas over the next 5 years.
So, why is that such good news for the UK biogas industry? In simple terms, we’ve been waiting for a credible, sizeable developer to come into the market – not just to develop a real critical mass of projects and lend credibility to claims this is a growth sector; but it gives early developers and other early investors who have taken big risks path-finding this new green industry the possibility of realising return on investment through exit to long term investors such as agri.capital GmbH.
And for those projects just starting off, agri.capital finally represents a LONG TERM investment and development partner as an alternative to the short termism that is currently pervasive in funding options for the industry. By partnering with BioWatt, projects are further boosted by having a development partner able to fund pre-construction development costs (often overlooked and hard to estimate) with its highly experienced and capable team and wider network of specialist partners.
For BioWatt this is the first in a number of corner stones on which the company is basing its ambitions to be the major driving force of the UK organics industry over the next 10 years!