NEWS HIGHLIGHT
Construction started on biogas project
Camco, a developer of
greenhouse gas emission reduction technologies and clean energy projects, has
announced the beginning of construction on a dairy biogas project in North
America.
June 6, 2011 – Camco, a developer of
greenhouse gas emission reduction technologies and clean energy projects, has
announced the beginning of construction on a dairy biogas project in North
America.
The project, which is
wholly owned by Camco and operated by the consortium AgPower Group LLC,
involves the installation of anaerobic digesters to convert cow manure into
enough biogas to fuel 4.5 MW of generation capacity. Proven anaerobic digesters
of a type already installed in more than 50 farms across the U.S. will convert
cow manure from a dairy farm based in Idaho into clean electricity.
The project is fully
financed for an estimated total project construction cost of less than $25
million, comprising a combination of construction financing and debt financing.
The project qualifies for the federal grant program established by the American
Recovery and Reinvestment Act of 2009, under which 30 percent of eligible
construction costs are reimbursed.
A 20-year power purchase
agreement is in place and the facility also has multi-year contracts for the
sale of sterilized fiber. The renewable energy certificates and emission
credits qualify under California’s new renewable energy and greenhouse gas
regulations. Civil and foundation work is well underway and completion of
construction is anticipated in the first half of 2012.
“Closing financing and
commencing construction on the largest dairy biogas project in the U.S. is a
major achievement for the Camco North America team, said Yariv Cohen, president
of Camco. “The USDA target has outlined potential to roll out anaerobic
digesters across 8,000 farms with potential generation of over 1,500 MW in the
U.S. and we are in a pole position to lead this effort.”
