CNBC
Summary
A turbine production plant owned by energy giant Vestas will now be powered using an environmentally-friendly source of gas, according to a new deal announced on Monday.
A biogas facility off the south coast of England will soon provide electricity to a factory operated by the Danish company, in what will be the latest example of how the idea of a “circular economy” is being embraced by big business.
In a statement Monday, Earth Capital said its portfolio company, Black Dog Biogas, would send power to the Vestas factory, which manufactures blades for offshore wind turbines. Both sites are located on the Isle of Wight.
The Black Dog plant is able to provide enough power to meet roughly 80% of the Vestas factory’s requirements, in addition to approximately 1,200 homes on the Isle of Wight, Earth Capital said.
The biogas facility generates energy using materials like grass and maize, which are grown on the island. The process has several steps, according to Earth Capital. Enzymes break the feedstocks down, producing biofertilizer and biogas.
The latter is used to fuel two combined-heat-and-power units, which produce heat and electricity, while the biofertilizer is scattered on farmland to help produce the crops used by the power plant.
This, Earth Capital said, helped to “support a circular economy” whilst at the same time negating the need to use what it described as “carbon intensive fertilisers.”
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