Green Investment Bank Invest US$46 Million in 10-MW WTE Plant

The government-owned UK Green Investment Bank will invest 30 million pounds (US$46 million) in a 10-megawatt waste-to-energy gasification plant in Hoddesdon, Hertfordshire that is developed by AssetGen Partners.

The plant, which will have a total cost of 60 million pounds, will be the first commercial scale, Refuse Derived Fuel gasification plant to be construction financed by third party investors. The gasification technology, which will treat commercial and industrial waste, will be designed by Biomass Power Ltd., with Bouygues Energy & Services acting as the installer.

The plant will be powered by more than 90,000 tonnes of RDF sourced from the commercial and industrial sectors and supplied by two UK-based waste suppliers, Biffa and Powerday. The plant is due to start operating in 2017.

The Green Investment Bank’s investment will be made through its fund manager, Foresight in a combination of shareholder loans and equity.  Other investors include NOY and P3P that will provide 20m pounds and 10m pounds respectively.

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