Resonance Industrial Water Infrastructure Fund (RIWIF) has acquired a 70 per cent interest in ReNu Energy’s existing power generation assets at the AJ Bush bioenergy facility near Beaudesert, Queensland, for a consideration of $700,000.
In addition, preliminary project works for the Bioenergy Alliance’s further investment in the AJ Bush ‘G4’ Expansion Project are continuing, with geotechnical studies, wastewater analysis and FEED study for the site of the proposed new anaerobic lagoon being recently completed.
The FEED study will form the basis for the detailed design and contracting to be completed in the coming months.
A final investment decision is expected to be made by AJ Bush and the Bioenergy Alliance by early Q1 2019.
Under the Bioenergy Alliance Agreement, ReNu Energy has agreed to provide RIWIF with a first right of refusal over the next four years to take a 70 per cent interest in the development of its next $100 million of bioenergy projects in Australia and New Zealand.
For all projects developed by the Bioenergy Alliance, ReNu Energy will be engaged as head engineering, procurement and construction contractor and will provide ongoing operations, maintenance and management services.