In 2016, Solar 21 embarked on one of our most exciting renewable energy projects to date. Tansterne Biomass was the first grand-scale renewable energy power plant that we funded, built and commissioned. What began as a 12-acre green field site is now a functioning biomass plant which will consume 150,000 tonnes of waste wood per year at full capacity. This wood, which would otherwise go to landfill, is supplied by local contractors in the Hull area. Without this plant, the waste wood would go directly to landfill. Solar 21 first identified Tansterne as a potential opportunity in 2014 when, with our niche expertise in the pre-planning and development of renewable energy projects, our team recognised it as a viable opportunity. The fact that the site was in Hull, a region of the UK which has established itself as a hub for renewable energy, was not insignificant. Following the due diligence process, we raised the necessary funds from the Irish broker market and set about satisfying the pre-construction requirements. The build began in 2016 and the plant was energised in March 2017 and commissioned in February 2018. The plant was recognised for its advanced design and renewable credentials when it was awarded “Best Renewable Energy Project or Installation” at the 2017 Humber Renewable Awards. It is designed to operate 24 hours a day, seven days a week and 365 days a year. In 2019, at the end of a three-and-a-half year investment term, Solar 21 exited investors. They received their initial investment plus a 31.5% return. Biomass is an important part of the UK’s energy supply, accounting for 22% of all renewable energy. It uses nature’s continuous cycle of regrowth to provide a renewable energy source, as well as avoiding harmful emissions from landfilled waste wood at the end of its life cycle. Our biomass plant benefits from the UK government’s incentive scheme known as ROCs (Renewable Obligations Certificates).

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