The group said that it intends to invest in eight to 12 sites that have a minimum 10-year contract with a local authority or company to establish a fixed volume of waste at a set price.
Under the requirements of the EU Landfill Directive, the UK needs to reduce the amount of biodegradable municipal waste being sent to landfill by 35 per cent of 1995 levels by 2020. Local authorities plan to help reach this target by promoting anaerobic digestion as a means of recycling.
Acuity’s waste management subsidiary, Envar, will be responsible for sourcing site projects, negotiating with local authorities and building and operating the plants to do this. Fundraising is due to begin next week.
Bill Elliott, chairman of Envar, said: ‘Anaerobic digestion is a proven and safe way of dealing with waste and generating renewable energy. Acuity’s reputation in investment management ensures that the projects will provide investors with reliable secured returns.’
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