Wrexham in North Wales will soon be home to a new green energy plant. A £25 million investment from the UK Green Investment Bank (GIB) and Equitix has been secured and construction of a biomass plant is expected to begin soon. The biomass plant is the second to be developed by Liverpool-based Green Plan Energy.
The 5.4 megawatt (MW) biomass plant will generate around 34 gigawatts per hour (GWh) of green electricity per year – enough to power 2,400 of homes. It will be combined heat and power (CHP) ‘ready’, meaning it has the potential to provide heat to neighbouring manufacturing businesses.
The facility is expected to cut greenhouse gas emissions by approximately 6,000 tonnes of CO2 every year – the equivalent of removing 2,800 cars from the road.
The Equitix-managed fund, Energy Savings Investment (ESI), in which GIB is a cornerstone investor, is investing £12.25m in the project. An additional £12.75m of private capital has been mobilised from the parallel Equitix Energy Efficiency Fund (EEEF).
Geoff Jackson, Chief Executive Officer at Equitix, said: “We are pleased to have reached financial close on another CHP ‘ready’ scheme in our energy efficiency portfolio. Once operational, we expect it to deliver beneficial carbon savings and make a significant contribution to the environment and creating a sustainable economy in the UK.
“Equitix is pleased to have achieved this close on behalf of our investors and we expect to close further energy efficiency deals in the coming months.”
Bester Generaciόn UK Limited, part of the Bester Group, has been appointed engineering, procurement and construction (EPC) contractor and has been awarded a long-term operations and maintenance (O&M) contract. Around 60 jobs will be created during construction of the plant, with 15 full-time positions created upon completion.
Fuel will be supplied by Hadfield Wood Recyclers with biomass specialists PBS Energo supplying the plant’s biomass boiler, flue gas cleaning system and electricity generation contract.
Power will be exported to the grid and sold to ENGIE under a long-term power off-take agreement.
Edward Northam, Head of Investment Banking, GIB, said: “Britain’s manufacturing businesses consume huge amounts of heat every year, much of it from non-renewable sources. Dual-purpose plants like Wrexham, which are capable of generating renewable electricity and heat for the benefit of local industry, play an important role in greening the UK economy. Heat isn’t just a bi-product of the electricity generation process, it is a valuable source of energy in itself.”
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