UK GIB, Equitix invest in 5.4-MW biomass plant

The UK Green Investment Bank plc (GIB) and fund manager Equitix Ltd are backing a 5.4-MW biomass plant in Wrexham, northern Wales with a GBP-25-million (USD 36.6m/EUR 32.8m) investment.

The Equitix-managed fund Energy Savings Investment (ESI), where GIB is a cornerstone investor, is providing GBP 12.25 million, and a further GBP 12.75 million of private capital has been mobilised from the Equitix Energy Efficiency Fund (EEEF).

Construction on the facility will start soon, with completion scheduled for March 2017, GIB said today. It will produce around 34 GWh of electricity per year -- enough to power 2,400 homes -- that will be sold to Engie under a long-term power off-take agreement. Being combined heat and power (CHP) “ready”, the facility will also have the potential to supply heat to neighbouring manufacturing businesses.

The plant, located in Wrexham Industrial Estate, has been developed by Liverpool-based Green Plan Energy. The contracts for its construction and operation have been awarded to Bester Generacion UK Ltd, part of Span’s Bester Group. PBS Energo will supply the technology, while Hadfield Wood Recyclers will supply the fuel.

(GBP 1.0 = USD 1.465/EUR 1.310)

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