More details have been announced about a proposed biomass plant earmarked for Ince Park in Cheshire.
Infracapital, Aurium Capital Markets, Foresight Group and Helios UK this week announced the creation of a £228m investment platform that will target biomass and energy-from-waste (EfW) projects.
The vehicle, dubbed Bioenergy Infrastructure Group (BIG), has earmarked £87m to build the 21.5MW Ince Park biomass scheme as its first project.
A spokesman for the investment partners said that Staffordshire-based firm Cogen is now developing the plant, and with the main contractors being MWH Treatment and Black & Veatch, working as the MBV Energy Recovery joint venture.
BIG chief executive officer Hamish McPherson said the new fund was “a great opportunity to create an investment platform of scale” in a rapidly growing market.
“We are excited to bring together a group of such experienced investors to launch this vehicle and establish it as a key player in the sector,” he said.
BIG said the Ince Park plant would had a 15-year feedstock contract in place to supply locally-sourced waste wood, and would provide enough electricity to power 40,000 homes once operational.
MBV Energy Recovery said it felt the UK market for small-scale, EfW plants was strong and that Ince would be the first of several such projects.
The site is owned by Peel Environmental whose development manager Jane Gaston, said: “We have worked in close partnership with a range of parties to secure this deal for the biomass facility. The project will deliver a reliable and renewable source of energy for the region.
“Peel Environmental is making strides to deliver an innovative destination at Ince Park and expect to announce further progress later this year.”
UPDATED: The original article confused the biomass plant with a larger EfW plant on the site which was originally due to be built by Peel and Covanta but has yet to get underway.