A planned 12 MW waste to energy gasification and material recycling facility in Derby has secured £64 million in funding from the UK Green Investment Bank (GIB).
The facility, which is expected to divert some 170,000 tonnes of waste from landfill each year, is being developed by waste and recycling firm Shanks, working alongside infrastructure construction firm, Interserve on behalf of Derby City and Derbyshire County Councils.
The GIB said that it will provide long-term loan financing alongside Germany’s Bayerische Landesbank and Japan’s Sumitomo Mitsui Banking Corporation, with each bank providing a third of the loan funding.
The new facility in south Derby will process waste from households in Derby and Derbyshire.
According to the GIB it will see an increase in the amount of waste that is recycled with the remaining treatable waste converted into energy using gasification technology.
The bank added that the project also involves running all Derby and Derbyshire’s household waste recycling centres. Following a 32 month construction period, the project will operate for 25 years.
Once operational the facility is expected to recycle over 35,000 tonnes of materials per year and divert over 170,000 tonne per year of waste from landfill.
The GIB said that the project will see 250 people recruited to work on construction of the new facility and 34 new permanent roles to operate it.
The gasification plant will be supplied by Energos, a UK-based company supplying advanced gasification plants around Europe.
The project will be the first long term, project financed, municipal gasification plant in the UK.
According to the bank, this project is significant in that in demonstrating the investment potential of this type of technology.
“The innovative financing of the project creates an important demonstration effect that will, in the long run, help to lower the cost of finance for innovative, green technology of this type,” commented Shaun Kingsbury, chief executive, UK Green Investment Bank.
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