To achieve financial close is a significant milestone and I’m very proud of our team for making this possible, and excited to welcome a second facility in the U.K. to our fleet.
PORTSMOUTH, NH (PRWEB) July 28, 2016
Wheelabrator Technologies today reached financial close on a new 606,000 tons per year energy-from-waste facility at Kemsley in Kent, U.K.
“To achieve financial close is a significant milestone and I’m very proud of our team for making this possible, and excited to welcome a second facility in the U.K. to our fleet,” said Wheelabrator President and CEO Robert Boucher.
Wheelabrator Kemsley is a combined heat and power facility which will generate 43 MW of sustainable electricity to power U.K. homes and businesses. Due to the facility’s location, Wheelabrator Kemsley will also provide valuable steam heat to the adjacent Kemsley Paper Mill, owned and operated by DS Smith.
Progress to reach financial close on this £340 million project follows the award of an Environmental Permit by the Environment Agency in 2011 and planning permission by Kent County Council in March 2012. In February 2015, Wheelabrator was successfully awarded a 15-year Contract for Difference with the U.K. government for approximately 50 percent of the facility’s power output. Fuel for the Wheelabrator Kemsley facility will come from across Kent and South East England, with 75 percent of the fuel supply hedged at fixed prices for terms ranging from 5 to 15 years with a number of top tier waste management companies.
Wheelabrator, an industry leader in the safe conversion of everyday residential and business waste into clean energy, said today site preparation work is underway and full construction of the facility is set to start in August. Wheelabrator expects plant operations to begin in 2019. The construction phase is expected to create hundreds of additional jobs in the local area and over 40 new, full-time operational roles at the facility.
“We remain focused on continuing to develop our pipeline for growth in the U.K. and building long-lasting relationships, including the one we have with DS Smith,” said Wheelabrator U.K. Managing Director Paul Green. “We are committed to bringing our experience and industry expertise to Wheelabrator Kemsley to deliver the highest safety and operational performance.”
Energy-from-waste is recognized for playing an important role in reducing greenhouse gas emissions through landfill methane avoidance, fossil fuel generation displacement and recycling of metals, as well as a vital contributor to sound, local sustainable solid waste management.
Wheelabrator is the second largest U.S. energy from waste business, and is an industry leader in the conversion of everyday residential and business waste into clean energy. The company’s vision To develop, deliver and realize the potential of clean energy speaks to Wheelabrator’s ongoing commitment to the development of clean energy solutions for its customers and local communities. Wheelabrator has a platform of 16 energy-from-waste facilities across the U.S. and U.K., four independent power-producing facilities, four ash monofills and three waste transfer stations.
Wheelabrator has an annual waste processing capacity of over 7.5 million tons, and a total combined electric generating capacity of 853 megawatts - enough energy to power more than 805,000 homes. In addition, Wheelabrator recovers metals for recycling into commercial products. Wheelabrator is owned by Energy Capital Partners, an energy-focused private equity firm with offices in Short Hills, New Jersey, Houston and San Diego. For more on Wheelabrator, please visit http://www.wtienergy.com. For more on Energy Capital Partners, please visit http://www.ecpartners.com.