Bioenergy Infrastructure Group obtained finance for a 25 MW waste-to-power
plant in Hull that’s the first in the U.K. to include a Contract for
Difference (CfD) with the government to smooth out prices for the power
it generates. The group was formed by four investors on Oct. 1 with the aim to become the nation’s biggest producer of biomass electricity,
Bioenergy said on Monday.
The Energy Works Hull project is a 200
million-pound ($303 million) plant on a 7.5-acre site and joins the 21.5
MW Ince Biopower wood-burning power plant in the county of Cheshire,
which was opened last month. It will produce enough power for 43,000
homes.
Bionenergy secured a 15-year power purchase agreement for the Energy
Works as well as a CfD for the same duration. A CfD is an agreement that
sets a so-called strike price for power over the duration of the deal,
giving developers certainty over what their plants will earn instead of
making them depend on market prices. The Bionenergy Group comprises investors Aurium Capital Markets, the
Foresight Group, Helios Energy Investments and Infracapital.
©2015 Bloomberg News
http://www.renewableenergyworld.com/articles/2015/11/u-k-bioenergy-group-adds-25-mw-waste-to-power-plant-in-hull.html
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