The UK’s Green Investment Bank plc (GIB) is to partly fund a new £107 million 14.85 MW waste to energy plant in Belfast, Northern Ireland plant as part of a joint venture, Full Circle Generation, with developer RiverRidge Energy Limited, Equitix and P3P Partners.
The GIB said that it has committed £47 million of equity to the facility, which will be located adjacent to Bombardier’s wing facility in the city’s Harbour Estate.
The plant, which will be fuelled by feedstock derived from household and commercial waste, is the said to be largest waste to energy project to be financed in Northern Ireland. It will generate approximately 61 GWh of electricity annually – enough to power more than 14,500 homes.
The design-build-operate contract has been awarded to Bouygues Energies and Services, which expects the plant to be fully operational by late 2017. The project, which qualifies for the Renewable Obligation scheme, is expected to create around 250 jobs during construction and 20 permanent positions in operations.
Waste management company Pioneer Fuels has agreed to a feedstock supply deal for the plant and a Power Purchase Agreement (PPA) has been signed with Bombardier.
Jonathan Bell, Minister of Enterprise, Trade and Investment, the Northern Ireland Assembly, commented: “As well as creating 250 construction jobs and 20 full-time posts once the facility is operational, it will also provide a competitive energy source for Bombardier, which is our largest manufacturing employer.”
Brett Ross, managing director, RiverRidge Energy Limited and RiverRidge Recycling Limited, added: ”The delivery of this critical piece of infrastructure provides a number of stakeholders with a world-class facility capable of recovering energy from waste in an environmentally sensitive and acceptable manner as well as the provision of a meaningful base load of renewable energy for Bombardier.”
The GIB is a “for profit” government owned bank tasked with accelerating the UK’s transition to a greener economy.
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