Durham, N.C.-based Leyline Renewable Capital announced Wednesday it entered into an agreement with RNG Energy Solutions to provide bridge funding for the development of two major anaerobic digestion facilities Linden and Philadelphia, Pa.
The RNG Energy facilities being financed by Leyline will be among the largest carbon reduction facilities built in their respective states.
The project in Linden will take organic waste streams from the northern part of the state and the New York metro area. Waste processed at this facility will be converted into bio-methane which will be refined to pipeline quality gas. This facility will allow the region to reduce waste disposal costs and significantly reduce carbon emissions.
It is also expected to create more than 400 direct and indirect jobs during the construction phase, and the facility will ultimately employ 30 full-time staff onsite with an additional 40 jobs associated with hauling and offsite processing.
The Philadelphia facility is located on a 23-acre portion of the former 1,400 acre Philadelphia Energy Solutions refinery. It will take in organic waste from the Philadelphia metro region and transform it into renewable natural gas which will be injected into the Interstate Pipeline and sold as transportation fuel.
The two RNG Energy facilities will each be able to take in up to 1,100 tons of organic waste per day, resulting in the daily production of up to 3,000 dekatherms of renewable natural gas – equivalent to the energy value of 26,000 gallons of gasoline. This production of renewable natural gas for use as vehicle fuel will also result in significant reductions of greenhouse gas emissions equivalent to 135 million fewer miles driven by gas-powered cars annually.
“Leyline Renewable Capital has demonstrated a unique understanding of the anaerobic digestion space and the specific challenges that come with renewable energy development,” said James Potter, president of RNG Energy Solutions. “RNG brings 30 years of experience to the table and we strongly value a financing partner that shares our deep understanding of the renewable energy industry and the capital needs of developers. With Leyline Renewable Capital, we have found that ideal combination and are confident that these two facilities represent the first of many opportunities to work together.”
In addition to this deal with RNG Energy Solutions, Leyline Renewable Capital is financing the development of dozens of solar, anaerobic digestion and energy storage projects across the United States. The company recently received an investment of $150 million to expand its renewable energy investment portfolio.
