Vision RNG anticipates annual reduction of approximately 120,000 tons of fossil-based CO2. (Source: Shutterstock/ Vision RNG/ HASI)
Renewable natural gas company Vision RNG has closed on an aggregate $207 million in project financing with climate investment firm HASI as the RNG company pursues a growth strategy to advance sustainable energy solutions and reducing carbon emissions.
HASI’s financing package includes a $130 million construction facility and a $77 million investment tax credit (ITC) bridge loan. The funds will be used to develop facilities to convert landfill gas into RNG from WIN Waste Innovations’ landfills and recycling services in Ohio.
“Our partnership with HASI is a major milestone for Vision RNG,” said Kevin Johnson, Vision RNG’s CFO. “This funding enables us to continue moving forward with our ambitious plans to produce more renewable natural gas, ultimately reducing greenhouse gas emissions and supporting the transition to cleaner energy sources.”
With an initial output expected to exceed 2 million MMBtus of RNG annually, the projects aim to double this production within 11 years, positioning the project among the largest RNG developments in the country.
Vision RNG anticipates annual reduction of approximately 120,000 tons of fossil-based CO2.
The RNG produced will provide a cleaner alternative for end users seeking to lower their carbon footprint. The projected emissions reductions from these initiatives equate to the estimated CO2 emissions produced by over 12 million gallons of gasoline or 250,000 bbl of oil each year.
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