Poyry gets technical services assignment for 299-MW UK biomass project

Finnish consulting and engineering firm Poyry Plc (HEL:POY1V) said today it has won a technical services contract for the 299-MW biomass-fuelled combined heat and power (CHP) project developed by MGT Power Ltd in northeastern UK.

Previously, Poyry provided front end engineering design for the same project and was involved in the negotiation of the engineering, procurement and construction (EPC) contract. Its new tasks include assistance in design review and construction supervision along with technical support during erection, commissioning, testing and hand-over, and support during the warranty period. The value of the new deal was not given.

The GBP-650-million (USD 854m/EUR 754m) Tees Renewable Energy Plant, as the project is called, reached financial close earlier in August. It will be equally owned by Australian investment bank Macquarie Group Ltd (ASX:MQG) and Danish pension fund PKA. The plant in Teesport will use wood pellets and chips from certified sustainable forestry sources in the US and Europe, including the UK.

(GBP 1.0 = USD 1.314/EUR 1.160)

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