10 December 2008

Climate Change Capital’s Ventus Funds help Belfast generate electricity from landfill site

(LONDON - 10th December 2008) A scheme that will enable Belfast's major landfill site to produce electricity by next summer is being funded by the Ventus Funds, managed by Climate Change Capital.

The 121 hectare Dargan Road site reclaimed from the Lagan estuary is now capped and produces methane gas.  This will be converted into electricity via gas generators. The scheme, announced this week, will initially generate enough electricity to power up to 6,000 homes. It is a cooperation between Belfast City Council and the renewable project development company Renewable Power Systems with the finance coming from the Ventus Funds.

The Ventus Funds have invested nearly £2m to fund the project which will involve purchasing generators to convert the gas into electricity. The scheme will cost over £4m in total. Belfast City Council will get paid for the electricity produced. It is estimated that the site, which has been receiving waste since 1973, will produce energy for at least 20 years. Some of the land, on the oldest part to the north, is designated to become a business park.

Steve Read from Ventus said: "We are proud to be helping Belfast not only prevent unnecessary greenhouse gases entering the atmosphere but also to make money out of producing renewable energy. We know that there are many other landfill sites in Northern Ireland and elsewhere that could benefit from this technology."

Andy Leach, managing director of RPS said: 'The generation of electricity using the methane gas rich gas collected from landfills is the waste industry's least known success story.  The Dargan Road site as Northern Ireland's largest landfill site has the potential to make a significant contribution to Northern Ireland's renewable energy output.  We are delighted to be working with Belfast City Council and Climate Change Capital on the delivery and operation of this project.'

Belfast Lord Mayor Councillor Tom Hartley said: "The electricity generating facility at Giant's Park will be of enormous environmental and economic benefit to Belfast. It will help create a brighter, cleaner and greener future for the city by eliminating the escape of potentially harmful greenhouse gas. It will also add to the amount of 'green' electricity produced from a sustainable source. It will further produce a significant income to the council which is good news for our ratepayers."

On 14 November, the Ventus Funds made an announcement to raise more capital, for more details please click here.

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Enquiries:

 

Climate Change Capital

Daniel Cremin          +44 (0)20 7939 5319            dcremin@c-c-capital.com

 

NOTE TO EDITORS:

The Ventus Funds

The Ventus Funds (www.ventusvct.com), managed by Climate Change Capital, are specialist Venture Capital Trusts focused on investing in companies that develop, construct and operate small to medium sized on-shore renewable energy projects in the UK.Since 2005 the Ventus Funds have invested in over 20 projects, totaling over 80 megawatts of capacity across a range of generating technologies including, onshore wind power, landfill gas, hydro electric and biomass.


Renewable Power Systems

RPS (www.renewablepower.co.uk) was formed in 1991 to provide management services for LFG projects on third party sites.

In 2003 RPS began to focus on taking forward new sites in its sole capacity, as well as continuing to develop sites for third parties in return for long term operational contracts. RPS currently operates 10 projects eight of which are at an advanced stage of development.

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