Waste giants Grundon and Viridor have joined forces to manage Lakeside Energy from Waste at Colnbrook near Slough.
The two companies believe their complementary skills and experience provide a unique opportunity to deliver this strategically located facility in line with EU and UK legislation and targets.
Richard Skehens and Mike Hellings, managing directors of Grundon and Viridor respectively, expressed delight at the successful outcome of talks.
The companies will own 50% of the plant each with The Bank of Ireland as lead arranger for the project. They will manage the site on behalf of development company Lakeside Energy from Waste.
It is expected that total costs for the site will be £160 million.
Lakeside has also announced that the preferred bidder for the Engineering Procurement Contract (EPC) has been selected. The successful bidder will be responsible for the 400,000 tonnes per annum advanced moving grate facility.
Japanese consortium Itochu/Takuma are expected to be given the contract worth over £100 million.
Award of the EPC contract will be in early autumn, although the preliminary infrastructure work has already started on site with the construction of the weighbridge. Commissioning of the EfW plant is scheduled for mid 2008.