A new green energy plant with a planned capacity of 43 MW has been boosted with an £80 million investment from the UK's Green Investment Bank, which exists to drive forward the adoption of clean and green renewable energies.
The plant is being planned to provide renewable power to the grid for onward use and clean heat to Kemsley Paper Mill, which already produces sustainable packaging solutions for retailers, further magnifying the low-carbon gains.
Once operational, the plant would support the production process to become less carbon-intensive by replacing part of its steam supply, which is currently gas-fired. It has now received over £300 million of debt finance from a lending club.
The development would be the first commercial-scale EfW facility supported by subsidies under the CfD scheme, and it is projected to produce as much as 154 GWh of green energy every year once it is operating at full capacity - equal to powering 37,500 homes. This is alongside the renewable heat output of 180 GWh for the adjoining paper mill.
At the same time, the project will help to slash carbon emissions by more than 163,000 tonnes annually, which would equate to taking 75,000 cars off the road during its operational lifespan whilst diverting half a million tonnes of rubbish away from landfill sites every year.
The local economy will also receive a boost, with 500 jobs being created during the build and then an additional 40 sustainable roles in operational fields once the plant is up and running. Waste will be provided by national and local waste management companies, and the new plant is expected to come online by 2019, offering myriad benefits to the environment, local supply chains and the green economy alike.