UK-based Shanks Group’s subsidiary Orgaworld Canada has closed financing for its financial close biofuels project in Surrey, Canada.
Details of the finance were not disclosed, but Shanks said it had finalized a fixed-price, performance-based partnership agreement. The federal government will contribute up to 25% of the capital costs through its P3 Canada Fund.
Located in Surrey’s Port Kells industrial area, the plant will convert 115,000 tonnes of organic waste into renewable natural gas annually. The natural gas will be used to power the city’s natural gas waste collection trucks, natural gas service fleet and new district energy system. The facility will also produce a compost product that will be suitable for landscaping and agricultural applications.
Shanks will design, build, finance, operate and maintain the facility for 25 years after the construction period, which will start this spring. Once completed in early 2017, Surrey will have the first closed-loop fully-integrated organics waste management system in North America.
