Irish-based renewable energy expert Kedco has received planning permission to build a £45m gasification facility in Enfield, London.
The plant will be fuelled by 60,000 tonnes of waste wood each year, generating 12MW of electricity and a similar amount of heat annually.
Confirmation from the Greater London Authority stating that it will not refuse planning permission was recently received following Enfield Council’s decision to agree planning permission.
Kedco chief executive Donal Buckley said: “We believe that the biomass clean-tech sector is currently at the same stage as the wind industry was five years ago. This represents an enormous opportunity for growth for Kedco. We believe that the granting of this consent shows the commitment of the Greater London Authority and Enfield Council to the biomass sector within London. “
In October, the AIM-listed company will begin to secure finance for the plant. It has already signed a 10-year feedstock supply with a local waste operator and has agreed a 20-year lease on the site. Kedco believes it will take 18 months to complete the facility once finance has been secured. It predicts the plant will generate an EBITDA of around £9m a year once it is up and running.
Recently, the renewable energy company signed a joint venture agreement with German supplier of biogas plants, AgriKomp. The aim of the partnership is to build and sell anaerobic digestion plants, which convert primarily agricultural wastes into energy in the UK and Ireland.