London, 5 August (Argus) — UK biomass project developer Evermore Renewable Energy will begin construction of its planned 15.8MW combined heat and power (CHP) biomass-fired plant in Londonderry, Northern Ireland, within the next few weeks.
The £80mn ($123mn) project has secured £20mn in funding from the Green Investment Bank (GIB) — its first investment in Northern Ireland — through the UK waste resources and energy fund, of which the GIB is the cornerstone investor. Other investors include Investec Bank and Denmark's Eksport Kredit Fonden.
The electricity produced by the plant will be sold to the grid, while the heat offtake will be used to dry wood chips for further bioenergy projects in the UK and Ireland.
Evermore has signed a 15-year supply agreement with Stobart Biomass, which will provide the plant with 115,000 t/yr of recycled wood over the term of the contract.
“Stobart Biomass is seeing increased demand for its range of products across the UK and is pleased to support Evermore with this key development in Londonderry,” Stobart Biomass chief executive Andrew Tinkler said. “We look forward to helping plant developers and funders to bring those opportunities to fruition and growing our biomass business.”
The plant is expected to be operational in 2015, and will increase renewable energy generation in Northern Ireland by 10pc.
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