Energy efficiency
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
15 December 2016
GIB is investing £35m in a new energy-from-waste plant in North Wales
The plant will prevent up to 200,000 tonnes of non-recyclable waste being sent to landfill per year
The facility is expected to generate enough electricity annually to power more than 30,000 homes
The plant is forecast to help avoid greenhouse gas emissions equalling 21,000 tonnes every year
The lending club also includes Mitsubishi UFJ Financial Group (MUFG), Siemens Bank and Natixis, with Barclays providing an equity bridging loan.
The 18.8 MW facility, which has been developed by Wheelabrator Technologies Inc (WTI), is expected to prevent up to 200,000 tonnes of non-recyclable waste being sent to landfill every year.
The plant is forecast to generate approximately 133 GWh of electricity annually once operational – equivalent to the power needs of over 30,000 homes. It is also expected to help avoid greenhouse gas emissions equalling 21,000 tonnes per annum.
The facility is being built and operated under a public-private partnership (PPP) with five local authorities in North Wales:
Flintshire County Council; Isle of Anglesey County Council; Gwynedd Council; Conwy County Borough Council; and Denbighshire County Council.
It is anticipated that the mobilisation phase at the facility will commence imminently and construction will be complete by the end of 2019. Hundreds of jobs are anticipated to be created during construction, with the plant supporting 35 new, full-time positions once operational.
Constructions industrielles de la Méditerrańes S.A. (CNIM) has been awarded the engineering, procurement and construction (EPC) contract for the project. WTI will manage operations and maintenance (O&M) at the plant.
Edward Northam
Head of Investment Banking, GIB
Paul Green
Managing Director, WTI UK
Total GIB share of investment: £35m
Total capital mobilised: £180m
Co-investors: Mitsubishi UFJ Financial Group (MUFG), Siemens Bank, Natixis and Barclays
Expected date of completion: End 2019
Developer: WTI
EPC contractor: Constructions industrielles de la Méditerranée S.A. (CNIM)
O&M: WTI
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