Energy efficiency
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
15 July 2016
Additional capital has been committed by a parallel SDCL-managed fund, UK Energy Efficiency Investments (UKEEI) 1A.
New steam-raising boilers, compressor technology and other heat-recovery measures will be installed at Huntsman’s plant in Wilton, Redcar. The project is expected to provide the global chemical manufacturer with long-term cost certainty, energy security and resilience.
Upon completion, Huntsman expects to produce 100% of its on-site steam requirements, leading to an estimated reduction in greenhouse gas emissions by up to 28,000 tonnes per annum – the equivalent of removing 12,750 cars from the road for the life of the project.
SDCL expects the project to make the biggest impact of any investment made by the UKEEI fund to date in terms of greenhouse gas emissions reduced per pound of investment.
ENGIE has been appointed engineering, procurement and construction (EPC) contractor, as well as being awarded the operations and maintenance (O&M) contract for the project.
Construction work has commenced with the project scheduled for completion by summer 2017.
Edward Northam
Head of Investment Banking, GIB
David Maxwell
Investment Director, SDCL
Paul Rawson
UK Divisional CEO for Energy Solutions, ENGIE
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