Bester Generaciόn UK, part of the Spain’s Bester Group, has been appointed engineering, procurement and construction (EPC) contractor and has been awarded a long-term operations and maintenance (O&M) contract. Around 60 jobs will be created during construction of the plant, with 15 full-time positions created upon completion.
The UK Green Investment Bank (GIB) and Equitix have jointly committed the necessary £25m to the project.
The 5.4 MW wood-fuelled biomass plant, the second to be developed by Green Plan Energy, will generate around 34 GWh of green electricity per annum – enough to power 2,400 homes. It will be combined heat and power (CHP) ‘ready’, meaning it has the potential to provide heat to neighbouring manufacturing businesses.
The Equitix-managed fund Energy Savings Investment (ESI), in which GIB is a cornerstone investor, is investing £12.25m in the project. An additional £12.75m of private capital has been mobilised from the parallel Equitix Energy Efficiency Fund (EEEF).
Fuel will be supplied by Hadfield Wood Recyclers with biomass specialists PBS Energo supplying the plant’s biomass boiler, flue gas cleaning system and electricity generation contract.
Equitix chief executive Geoff Jackson said: “We are pleased to have reached financial close on another CHP ‘ready’ scheme in our energy efficiency portfolio. Once operational, we expect it to deliver beneficial carbon savings and make a significant contribution to the environment and creating a sustainable economy in the UK.”