Wheelabrator Parc Adfer Energy Recovery Facility Achieves Financial Close
PORTSMOUTH, NH (PRWEB) December 15, 2016 -- Wheelabrator Technologies today reached financial close on a new 220,000 tons per year energy recovery facility, with construction to commence in January 2017 on the Deeside Industrial Park in Flintshire, North Wales.
"To achieve financial close is a significant milestone and I’m extremely proud of our team for making this possible,” said Wheelabrator President and CEO Robert Boucher. "This is the result of six years of hard work and negotiations, and I’m excited to welcome our third U.K. facility to our global fleet."
Wheelabrator Parc Adfer will be a combined heat and power enabled facility which will generate 18.8 MW (gross) / 16.6 MW (net) of sustainable electricity to meet the needs of over 30,000 U.K. homes and businesses. The facility will also be capable of providing valuable steam or heat to local industry and housing.
Progress to reach close on this £180 million financing follows the award of planning consent by Flintshire County Council's Planning and Development Control Committee in May 2015 and an Environmental Permit by Natural Resources Wales.
In 2014, Wheelabrator was selected as preferred bidder to build and operate the facility over the next 25 years as a public-private partnership (PPP), with support from the Welsh Government to serve the five local authorities that make up the North Wales Residual Waste Treatment Project (NWRWTP) - Conwy County Borough Council, Denbighshire County Council, Flintshire County Council, Gwynedd Council and the Isle of Anglesey County Council.
Residual waste fuel for the facility will be provided primarily by the five authorities, which initiated the procurement to achieve long-term targets for recycling and diversion of waste from landfill. A further long-term contract is in place with a top tier waste management company, ensuring that over 70 percent of the facility’s fuel supply is hedged at fixed prices. The remaining capacity at the facility will be offered to commercial waste collection companies.
Wheelabrator, an industry leader in the safe conversion of everyday residential and business waste into clean renewable energy, said today that site preparation work will start immediately and full construction of the facility is set to commence in 2017. The construction phase is expected to result in hundreds of additional jobs and create around 35 new, full-time operational roles at the facility when plant operations commence in 2019.
"The Parc Adfer facility is an example of our ongoing commitment to investing in new and necessary energy recovery infrastructure across the U.K.," said Wheelabrator’s U.K. Managing Director Paul Green. "We remain focused on developing our pipeline for growth and building long-lasting relationships with the five North Wales authorities and commercial waste companies across the U.K. We’re committed to bringing our experience and industry expertise to Wheelabrator Parc Adfer and delivering a facility of the highest safety and operational performance standards."
Parc Adfer is Wheelabrator’s third energy recovery facility in the U.K., which in total represents over 1.43 million tons of residual waste treatment capacity. Energy recovery facilities are 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.
About Wheelabrator:
Wheelabrator Technologies 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. Wheelabrator has a platform of 20 power-producing assets across the U.S. and U.K.—16 energy-from-waste facilities, four independent power plants as well as four ash monofills and three 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. Wheelabrator also recovers metals for recycling into commercial products. 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 is owned by Energy Capital Partners, an energy-focused private equity firm. For more on Energy Capital Partners, please visit http://www.ecpartners.com. For more on Wheelabrator, please visit http://www.wtienergy.com.
Jordan Osbon, Wheelabrator Technologies Inc., http://www.wtienergy.com, +1 6039293387, [email protected]
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