UK Green Bank Continues on Path of Waste-to-Energy Investment

After targeting waste-to-energy in September for its first investment since its purchase by the Macquarie Group this year, the Green Investment Group (GIG) now is entering a partnership to develop, fund and own new waste-to-energy projects in the U.K. and Ireland.

GIG this week said that it sealed a new partnership with Covanta Holding Corp. with a US$161 million investment in a 50 percent stake in Covanta’s new Dublin waste-to-energy facility. The project is expected to be operational early next year.

The green bank in September arranged a US$51.6 million debt facility for Wheelabrator Technologies’ stake in Ferrybridge Multifuel 2 (FM2) — a new, large-scale merchant waste-to-energy facility near Knottingley in West Yorkshire, U.K.

The partnership has identified six projects of interest in the U.K., according to GIG.

GIG said that it has invested more than US$1.3 billion in waste and bioenergy facilities, ranging from small-scale anaerobic digestion plants to large-scale waste-to-energy plants that are expected to divert hundreds of thousands of metric tons of residual waste from landfills every year.

Lead image credit: CC0 Creative Commons | Pixabay

Previous articleNew Geothermal Plant in Nevada Will Help Power Los Angeles
Next articleTariff Decision Looms Large for Sale of SolarWorld
Jennifer Delony, analyst for TransmissionHub, started her career as a B2B news editor in the local and long-distance telecommunications industries in the '90s. Jennifer began covering renewable energy issues at the local level in 2005 and covered U.S. and Canadian utility-scale wind energy as editor of North American Windpower magazine from 2006-2009. She also provides analysis for the oil and natural gas sectors as editor of Oilman Magazine.

No posts to display