In Canada, EverGen Infrastructure Corp. announced the successful drawdown of C$15 million under the first tranche of the previously announced C$31 million syndicated senior term loan from Roynat Capital and Export Development Canada, providing EverGen with financial certainty to fund the Fraser Valley Biogas core RNG expansion project currently under construction.
EverGen’s Fraser Valley Biogas core RNG expansion project commenced construction in Q3 2022, including the installation of an additional anaerobic digestor, improvements to the feedstock processing system and installation of a new RNG upgrader that will double the expected production capacity of the facility to ~160,000 gigajoules of RNG per year.
EverGen has reached the 75% completion milestone, with all major piping and equipment fabrication, site preparation and civil work substantially complete, including the replacement of original agitation equipment in Digestors 1 and 2, and equipment setting and site mechanical work well underway. EverGen expects to set and tie in equipment modules, interconnecting piping and electrical in the coming weeks, on track for scheduled completion in Q3 2023. The project remains on-budget with costs incurred and purchase orders issued to date for approximately 75% of the C$11-12 million required for this project.
