November 30 (Renewables Now) - UK infrastructure investor Equitix and fund manager Iona Capital said on Thursday they have bought a GBP-72-million (USD 92m/EUR 81m) energy-from-waste (EfW) project in Somerset, South West England.
The pair intends to co-finance the project, which envisages building the 7.75-MW Resource Recovery facility in Bridgwater. The particular plant will be processing some 100,000 tonnes of commercial and municipal refuse derived fuel (RDF) a year, with waste to be supplied by Geminor UK Limited under a long-term deal.
The construction of the plant has been entrusted to STC Power SRL and is expected to start in the first quarter of 2019. Completion is scheduled for 2021. Pinnacle Power Limited has been appointed to operate and maintain the asset once it goes live.
Nick Ross, director and co-founder of Iona Capital, commented that this is the first of several planned investments in the EfW sector.
(GBP 1.0 = USD 1.275/EUR 1.122)