MK Group Energy
Pact Capital facilitated the VCS credit development and issuance for a complex biogas cogeneration project in Vrbas, Serbia.
Development for a complex biogas cogeneration project
The project, consisting of a biogas production system combined with two combined heat and power (CHP) generators, started electricity production in October 2022.
The project captures methane – one of the most potent greenhouse gasses – from organic waste and the produced renewable energy is utilised as heat and electricity via a cogeneration system improving the air quality of the region and supplying affordable clean energy to the citizens.
PROJECT BENEFITS & SDGS
The Project Will Serve to:
Create enough energy to supply 5000 households over year.
The use of biogas to generate electricity is 54% less pollutant than the lignite carbon, the mainly power source in Serbia.
Possibility of heating nearby apartment buildings with excess heat.
Contributions to the reduction of climate damage by avoiding emissions of 30,300 tCO2/y.
Organic solid fertiliser (NPKS) and Organic liquid fertiliser (AS).
Since the 1800s the continuous combustion of fossil fuels has increased the amount of GHG gas in the atmosphere, trapping the sun’s heat and raising the global temperature.
In Serbia, the power sector that is mainly based on coal is responsible for a major part of the country’s emissions.
The agricultural industry produces nearly 19 – 29% of GHG emissions. (World Bank, 2015) and a 1/3 of the food globally produced is either lost or wasted generating methane – Methane (CH4) has a 28 times greater impact on the ozone layer and greenhouse gas effect than carbon dioxide (CO2)
The Verbs biogas plant uses naturally occurring gas that is produced from anaerobic fermentation of residues from sugar production – sugar beet pulp, sugar beet waste, and desugarised molasses. The plant has two gas engines producing power at 2,4 MW/h and clean gas storage volume of 2000 Nm3.
The project captures methane – one of the most potent greenhouse gasses – from organic waste and the produced renewable energy is utilized as heat and electricity via a cogeneration system improving the air quality of the region and supplying affordable clean energy to the citizens.
The project contributes to the decarbonisation of the most polluting sector. The expected average annual emission reductions of the project could reach 30,000 tons of CO2e.
The Verbs biogas project meets the criteria of the VCS Program and issues credits in three crediting periods with each period corresponding to 7 years.
With the amount of thermal energy produced, there is also a possibility of heating nearby apartment buildings with excess heat.
As well as the amount of clean energy produced, there are also ecological contributions including the reduction of climate damage by avoiding emissions of 30,300 tCO2/y and the by production of organic solid fertiliser (NPKS) and organic liquid fertiliser (AS).
Elia oversees fintech and business development at Pact Capital. An alumnus of the University of Warwick, he holds a first-class degree in Law and Finance. After finishing his studies, Elia spent five years at Traxys, where he worked in business development and trading. He then went on to found FabrikaNYC, a software studio and incubator. Under his leadership as COO, FabrikaNYC expanded to a team of 40, successfully completing nearly 50 projects. This includes four VC-backed ventures that collectively raised $120 million in funding and two exits through public listings.