CIP and SSE Thermal reach financial close on UK’s new energy-from-waste project
Published by Bella Weetch,
Editorial Assistant
Energy Global,
Copenhagen Infrastructure Partners (CIP) has – through its fund Copenhagen Infrastructure IV (CI IV) – reached financial close on the 49.9 MW energy-from-waste project, Slough Multifuel, together with joint venture partner SSE Thermal. The project is located within Slough Trading Estate, Greater London, UK.
CIP acquired a 50% stake in Slough Multifuel from SSE Thermal in April 2020 and the parties have co-developed the project throughout the remaining development phase. On 3 December 2020, Slough Multifuel issued notice to proceed to energy-from-waste specialist Hitachi Zosen Inova. Upon completion of the enabling works, construction will commence in early 2021 and will take up to four years, with the project expected to reach commercial operations in 2024. Once complete, the plant will be operated by SSE Thermal. The total investment amount will be approximately £400 million and will be equally split between SSE Thermal and CI IV.
Once fully commissioned, the energy-from-waste plant will provide a sustainable and environmentally friendly waste management solution for the Greater London area, by processing 480 000 t of residual waste per annum, which will contribute to the UK government’s strategy to reduce landfill and export of waste. By utilising residual waste as a renewable energy source, Slough Multifuel will offset more than 147 000 tpy of CO2 and power more than 100 000 homes. Moreover, the project will be bringing hundreds of local jobs to the area during construction as well as around 50 permanent jobs in the operations phase.
The Slough Multifuel project adds to CIP’s history within UK thermal investments, which dates back to 2013. The company have four operational biomass plants and one of Europe’s largest energy-from-waste plants is currently undergoing construction in Lostock, near Northwich in Cheshire, England.
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Read the article online at: https://www.energyglobal.com/bioenergy/09122020/cip-and-sse-thermal-reach-financial-close-on-uks-new-energy-from-waste-project/
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