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Helius lines up lenders for Southampton biomass scheme

Biomass developer Helius Energy is talking to a club of banks as it seeks to finance its 100MW, £300m biomass plant in the Port of Southampton, it has been reported.

MRW’s sister title Infrastructure Journal said RBS, Investec and NIBC were understood to be the banks currently engaged in talks with the project sponsor.

Investec said it was “part of the banking group that Helius Energy is putting together for its Southampton biomass project” but Helius Energy would not comment.

Earlier this year, Helius delayed its application for consent on the project, citing delays to the UK government’s energy market reform process. The application for development consent for the proposed wood-fired project is now expected to be submitted during the summer.

Helius previously completed the £60.5m Helius CoRDe biomass CHP project, which is partly fuelled by waste from an adjacent Scottish whiskey distillery. That project reached financial close in early 2011 following an equity commitment by Rabobank.

It is also in the process of financing its Avonmouth dedicated biomass project. It confirmed in 2012 that it was working with a club of banks - including, amongst others, Lloyds Bank Wholesale Banking & Markets, the Royal Bank of Scotland and Santander Global Banking & Markets - to project finance the plant.

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