Published Tuesday, 13 May 2014
Farmers can apply for funding under the new project. (© Getty)
Assured Asset Energy (AAE) launched the fund on Tuesday saying the plants, when in place, could generate clean renewable energy for up to 5,000 homes across the region.
The UK based company funds and develops commercial-scale anaerobic digestion and gasification plants for processing a range of waste including food waste, harvested crops and farm waste.
The plants could process up to 450,000 tonnes of farm waste a year to produce biogas and generate up to 8.5MW of electricity for connection and sale onto the Northern Ireland grid.
Under the proposed scheme farmers would be able to apply for funding to install the facilities on their land.
Alex Colombini, director at Assured Asset Energy, said: "We're very excited to be launching this fund that will be of great benefit to local farmers and will help Northern Ireland reduce its carbon footprint.
"We encourage farmers who have the capacity to take advantage of the opportunity."
Environment Minister Mark H Durkan, who officially launched the fund, added: "Renewable energy really is a win-win. It's a win for the environment and the economy.
"This fund will help more farmers to seize the benefits of this renewable technology which can help them make savings and reduce running costs in the longer term.
"Anaerobic digesters can also assist in reducing carbon emissions and help meet Executive renewable energy targets.
"I am a strong supporter of renewable energy and believe that initiatives such as this will be a welcome boost for the rural economy."
© UTV News