Waste and bioenergy
07 September 2017
The £38 million commitment is the first investment to be completed following the acquisition of the Green Investment Bank by a Macquarie-led consortium earlier this month (18 August 2017).
The investment is part of a £207 million senior debt facility from a syndicate of lenders including MUFG, Crédit Agricole Corporate & Investment Bank, Investec Bank plc and Banco de Sabadell S.A. that will fund Wheelabrator Technologies’ stake in FM2.
Once operational, the ~70 MW facility will generate electricity for UK homes and businesses. It is also expected to reduce greenhouse emissions and prevent waste going to landfill.
FM2 is being built by Multifuel Energy Ltd (MEL), a 50:50 joint venture between Wheelabrator Technologies and SSE plc.
It will be located adjacent to Ferrybridge Multifuel 1 (FM1), which commenced commercial operations in July 2015, and next to the recently decommissioned Ferrybridge C coal-fired power station. Combined, the FM1 and FM2 plants will form the largest energy-from-waste site in the UK.
Edward Northam
Head of the Green Investment Group
Mark Dooley
Head of Energy and Infrastructure, Macquarie Capital Europe
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