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Viridor advances on EfW but is cautious on profits

Viridor has made ‘significant progress’ in growing its energy-from-waste assets, its parent Pennon Group has noted in an interim statement.

Ahead of releasing financial results for 2013/14 in June, Pennon highlighted advances on the following projects:

  • Runcorn I and Exeter - both now in commissioning and will begin burning waste by the end of March
  • Ardley - commenced commissioning earlier this month
  • Runcorn 2 and Cardiff - will shortly enter commissioning
  • South East Wales residual waste contract (Prosiect Gwyrdd) - signed in December 2013
  • Glasgow and Peterborough - excellent early construction progress
  • South London Waste Partnership PPP (Beddington) -  ‘Notice to Proceed’ expected shortly

The increased focus on energy from waste is part of Viridor’s ambition to become a “leading player in the UK renewable energy sector”. Pennon described Viridor’s performance for the first half of 2013/14 was “slightly ahead” in comparison to the same period last year.

However, Pennon noted that pretax profits will be impacted by increased pension costs resulting from auto-enrolment and by an power outage at Lakeside.

The outage took place in the second half of 2013.

A spokeperson said: “At Lakeside, these outages normally occur once each year. This particular outage just took slightly longer than expected as the turbines which generate electricity on the site needed to be repaired.”

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