The Fund owns a 64MW landfill gas fuelled power generation project portfolio located in the United Kingdom.
Long term site agreements provide secure access to fuel supply. The portfolio’s capacity is sold under a combination of NFFO contracts (UK government-backed fixed price power purchase agreements) and market based sales arrangements which include the sale of energy and UK Renewable Obligation Certificates.
The Fund owns a 42 MW portfolio of eight landfill gas fuelled power generation projects located in Texas and California, USA.
Gas engines for the Texas projects were supplied by GE Jenbacher, an industry leading manufacturer of equipment for landfill gas application. Run Energy has been engaged to provide operations and maintenance services for the projects.
In Texas landfill gas is supplied to the projects under fuel supply agreements with Waste Management Inc., which owns and operates the landfill sites and associated gas collection systems. The Texas Renewable Energy Credits from all six projects and the electricity from four of the projects are sold on the spot market. The remaining two projects sell their electricity output as “qualifying facilities” under the Public Utilities Regulatory Policy Act.
The Penrose and Toyon projects in California source landfill gas from the Penrose, Bradley and Toyon Canyon landfill sites. The projects are operated and maintained by SCS Engineers and electricity produced by the projects is sold under power purchase agreements with the City of Los Angeles. Electricity produced from the Penrose project is also eligible to receive s45 production tax credits which can be applied to reduce VCE’s US federal income tax liability.
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