Renewable natural gas (RNG) tech company Anaergia Inc. has signed a deal to advance a pivotal RNG infrastructure project in the City of Riverside, California. The company said in a media release that under the agreement, its development-stage project asset Riverside Bioenergy Facility LLC (RivBF) will be sold to a developer with institutional investor funding.
RivBF currently has a lease with the City of Riverside that provides for, upon approval of the parties, the construction of organic waste-to-RNG infrastructure at the Riverside Water Quality Control Plant (RWQCP), Anaergia said.
Financial close is subject to certain conditions, including the amendment of the site lease with the City of Riverside, receipt of third-party consents and regulatory permits, and the completion of ancillary agreements.
Anaergia Technologies LLC, a subsidiary of Anaergia, has been contracted to provide engineering, procurement and construction (EPC) services for the RWQCP upgrades following its closure, with the developer committing to financing. These services involve installing Anaergia’s advanced biogas conditioning and upgrading systems, organic waste feedstock processing systems and various upgrades at the RWQCP. Most of the EPC activities are planned for 2026 and 2027, and Anaergia anticipates cashing in CAD 39 million ($28.2 million) in revenue.
The parties have also agreed on operations and maintenance (O&M) services. Anaergia Services LLC will provide these services to RivBF after EPC activities are completed, under a long-term contract.
By transferring project ownership to a developer backed by an institutional investor, Anaergia reduces its financial risk while ensuring the effective deployment of its renewable energy solutions, it said.
“The new project is pivotal in advancing the City of Riverside’s sustainability efforts by significantly decreasing the carbon footprint of its RWQCP and complying with California’s SB1383 regulations for organic waste recycling”, Assaf Onn, CEO of Anaergia, said.
To contact the author, email andreson.n.paul@gmail.com
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