Development of Biogas and industrial CHP Projects

Sigma Catalyst Partners has been actrive in co-developing  organic waste biogas projects, which are presented to investors prior to implementation. We also review CHP for manufacturing plants.

We are mainly focused on animal manure, dairy and slaughterhouse waste fueled biogas units, where we may also participate as ealry stage investors and co-developers and cooperate with European turnkey providers of anaerobic digestion (AD) plants to minimize construction and operation risk.

This activity has however been considered uninteresting in Greece due to lack of adequate raw material volumes.

Project Development

  • Sigma Catalyst Partners has joined a seasoned team in developing biogas plants from animal manure. We are providing initial equity as well as advising the team in all finance aspects. The first project is a 0,5MW biogas plant in Komotini, an organic waste project mature with all permits in place as well as approved government subsidy. Co-location with farm enables low cost access to raw material. Fund raising in progress – initial interest by local VC. Total budget at 2,0 mil.€ (2015, abandoned due to low feedstock volume).

  • Central Macedonia 0,5MW biogas facility. The project was in final permitting stage of grid connection approval and the completion of environmental terms. The investment cost estimated at approximately 2,6 mil€. Discussions with leading European vendor completed. Project financing via German bank available subject to certain conditions. Equity investment under review s.t. securing PF – abandoned due to low feedstock volumes (2014-2015).

  • Epirus 1,3MW biogas facility. This project is at its initial structuring stage. Organic waste from leading dairy producer combined with chicken waste are main process inputs. Pre-feasibility is completed based on technical proposal by leading European AD vendor. The investment cost is estimated at approximately 5,0mil€. Project stopped in 2014 due to the economic situation in Greece as well as a change of ownerhsip of industrial sponsor (dairy producer).

  • Western Greece 3,4MW biogas facility. The project was mature with all permits in place, however facing logistics challenges. Organic waste from pig manure combined with sorghum and rye grass silage are main process inputs. Investment cost estimated to reach €11m. Identified need to restructure and scale down or abandon due to insufficient volume and logistics challenges (2013).

Advisory mandates

The company also assists as financial advisor in non-AD projects in the fields of biomass and renewable energy. Projects concluded in progress include:

  • 12million Euro natural gas powered CHP plant in cooperation with manufacturer and ESCO.  Investment assessment – buy side advisory (2013)
  • Biomass/pellet commercial production plants – Project evaluation and equity fund raising (2012)
  • Evaluated financing options for organic fertilizer composting unit in Central Greece (2013)