Port Clarence Energy, a joint venture between Eco2 and Temporis Capital LLP, has submitted plans to build a £160m biomass plant in Stockton, near Middlesbrough.
If planning proposals are approved, the new facility will provide 45MW of renewable energy from around 325,000 tonnes of waste wood a year, sourced mainly from construction and demolition sites, local authority collections and packaging.
Port Clarence Energy said that the construction of the plant should begin at the turn of next year and take 30 months to complete. The plant will have an operating lifespan of 25 years.
The company said that the waste wood would be delivered by vehicles capable of carrying 25 tonnes, and that there would be approximately 50 feedstock deliveries per day.
The plant will create around 50 jobs and the company expects to spend around £40m on locally sourced goods and services.
Andrew Toft, director of projects at Eco2 said: “We have spent a considerable time refining our plans to produce a clean design that combines architectural vision and practicality. The project will help the UK meet its renewable energy targets but, more importantly for the region, it brings with it substantial inward investment and employment.”