2030 Finance | September 16, 2017

U.K. waste-to-energy plant lands $275 million in debt financing

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U.S.-based Wheelabrator and U.K. energy company SSE are constructing a 70-megawatt plant in Yorkshire, in northern England, to treat up to 675,000 tons of waste each year and power 118,000 homes.

The plant, Ferrybridge Multifuel 2, is backed by a consortium of funders that includes the Green Investment Group, which has committed £38 million ($50.5 million), Mitsubishi UFJ Financial Group, Credit Agricole, Investec, and Banco de Sabadell.

The plant is set to be completed in 2019; a companion plant, Ferrybridge Multifuel 1, came online in 2015.

Waste for the new plant will be supplied via long-term contracts with waste management companies.