By Matthew Dickman and Chris Negus
For those planning to develop new energy from waste infrastructure, achieving funding is the key milestone when moving from the planning phases into construction. Privilege Finance supports developers throughout the funding journey.
In the business development team at Privilege Finance, we support developers in the process of preparing an application for energy from waste funding. This involves making sure all required evidence is included, and offering guidance backed by our extensive industry experience to help with early-stage decision making.
The below is a guide to what can be expected when applying for energy from waste project funding. There will be a requirement to provide detailed documentation and evidence for use in the preparation of a funding request. This is used to confirm that the project has been thoroughly researched, carefully considered and will be viable in the long-term.
Planning permission for energy from waste projects
Having planning permission agreed ahead of the credit application is an absolute must, as it’s important to have certainty that the project is ready to go ahead.
Privilege Finance has a large network of industry contacts who can support with ironing out barriers to relevant permissions being granted. For example, we can recommend environmental consultants with experience in obtaining environmental permits for similar projects.
Selecting an energy from waste technology
It is helpful to have a good initial idea of the technology for a project when starting the funding application process. However, this does not need to be set in stone and we can offer our knowledge of the industry to ensure developers are fully informed regarding technology decisions.
Privilege Finance are technology agnostic, meaning we do not favour any options above others. We are always open to funding projects using proven technologies. We use our industry expertise to make sure pricing is realistic and that the proposed technology will achieve exactly what the business is setting out to do.
We also review all technical documentation ahead of the technical due diligence process, to give peace of mind that everything is in order.
Scoping energy from waste feedstocks
Although waste is produced everywhere, the channels that it goes through after collection vary in structure, so it is important to understand the waste system in the area. We advise working with local stakeholders from the early stages of a project to ensure that an energy from waste project meets the specific waste needs of the area.
We check through evidence of feedstock availability and contracts as part of the preparation for the credit report.
In addition to reviewing feedstock contracts, environmental surveys and technology offers, we also conduct full credit searches. The thorough approach ahead of submitting the credit report gives a project the best possible chance of being awarded funding, by identifying issues and resolving them as early in the process as possible.
Achieving funding is the first phase of a developer’s journey with Privilege. We also work closely with the project management team to keep the project on track and meeting milestones throughout the construction phase.
Renewables are the way forward, and investment in new energy from waste projects now will be critical to ensuring the UK reaches the target of net zero emissions by 2050.
If you’re interested in finding out more about applying for energy from waste project funding, get in touch on 01353 647020.