U.K. Green Bank to Invest in Waste-to-Energy Project

(Bloomberg) — The U.K. Green Investment Bank will plow 30
million pounds ($46 million) into a plant that will generate
electricity from commercial and industrial waste near London.

The 10-megawatt facility at Hoddesdon, developed by
AssetGen Partners, will represent an investment of 60 million
pounds, the bank and its fund manager Foresight Group LLP said
in a statement. It is expected to start operating in early 2017.

The plant is the first commercial-scale, refuse-derived
fuel gasification project to secure construction financing from
third-party investors, according to Foresight. It will be able
to power at least 7,000 homes using about 90,000 tons of
feedstock supplied by two waste management companies.

“This first-of-kind, high-technology waste facility
signals a new phase in the U.K. waste management sector,” GIB
Chief Executive Shaun Kingsbury said. “The project is a great
example of innovation driven by and backed up by some great U.K.
companies.”

To contact the reporter on this story:
Marc Roca in London at
mroca6@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Randall Hackley

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