The AD plant, in Teesside, got £8 million through fund manager Greensphere Capital. It is the first of six planned over the next five years as part of a £80 million investment programme. Once constructed, the six AD plants will generate around 30 megawatt hours of electricity and divert around 550,000 tonnes of waste a year which could end up as landfill.
The second investment involves a £5 million retrofit of Kingspan insulation panel factory with systems and services expected to reduce its energy consumption by 15 per cent.
Speaking in Edinburgh where the GIB is headquartered, business secretary Vince Cable said: “The Green Investment Bank – a key coalition pledge – is now a reality. It will place the green economy at the heart of our recovery and position the UK in the forefront of the drive to develop clean energy.