£180m Finance Secured as Energy Recovery Plant Moves Forward in Flintshire : Financial Close at Wheelabrator's 19MW Welsh Waste to Energy Project
US based waste to energy operator, Wheelabrator Technologies, has reached financial close on a new 200,000 tonnes per year energy recovery facility on the Deeside Industrial Park in Flintshire, North Wales.
The company said that it expects construction of the Parc Adfer waste to energy plant commence in January 2017. It will be a combined heat and power enabled facility which will generate 18.8 MW (gross) / 16.6 MW (net).
“This is the result of six years of hard work and negotiations, and I’m excited to welcome our third UK facility to our global fleet,” said Wheelabrator president and CEO Robert Boucher.
Wheelabrator Parc Adfer will be a combined heat and power enabled facility which will generate 18.8 MW (gross) / 16.6 MW (net) of sustainable electricity to meet the needs of over 30,000 UK homes and businesses. The facility will also be capable of providing valuable steam or heat to local industry and housing.
Wheelabrator added that the £180 million financing follows the award of planning consent by Flintshire County Council's Planning and Development Control Committee in May 2015 and an Environmental Permit by Natural Resources Wales.
In 2014 the company was selected as preferred bidder to build and operate the facility over the next 25 years as a public-private partnership (PPP), with support from the Welsh Government to serve the five local authorities that make up the North Wales Residual Waste Treatment Project (NWRWTP) - Conwy County Borough Council, Denbighshire County Council, Flintshire County Council, Gwynedd Council and the Isle of Anglesey County Council.
Residual waste feedstock for the facility will be provided primarily by the five authorities, which initiated the procurement to achieve long-term targets for recycling and diversion of waste from landfill.
A further long- term contract is in place with a top tier waste management company, ensuring that over 70 percent of the facility’s fuel supply is hedged at fixed prices. The remaining capacity at the facility will be offered to commercial waste collection companies.
Wheelabrator said that site preparation work will start immediately and full construction of the facility is set to commence in 2017.
The construction phase is expected to result in hundreds of additional jobs and create around 35 new, full-time operational roles at the facility when plant operations commence in 2019.
Parc Adfer is Wheelabrator’s third energy recovery facility in the UK, which in total represents over 1.3 million tonnes of residual waste treatment capacity.
The project is financed with a 23 year term loan from the Green Investment Bank, MUFG, Natixis and Siemens, with an equity bridging loan provided by Barclays. Wheelabrator was advised by DWPF.
CNIM Group is supplying the technology and Clugston Construction is handling civil engineering.
Read More
Keppel Seghers to Supply ‘World’s Largest’ Waste to Energy Plant in China
A contract to supply combustion technology to the world’s biggest waste to energy plant in Shenzhen, Guangdong Province, China has been secured Keppel Seghers Belgium N.V.
China's Largest Waste to Energy Facility Set to Open
The largest waste to energy facility in China is duo to enter service by June this year in the city of Tianjin, on the country's northern coast.
Everbright to Develop 750 TPD Waste to Energy Expansion in Shandgon, China
China Everbright International (HKSE: 00257) has won the bid for a 750 tonne per day waste to energy project in Shandgon, China.
