Macquarie backs Ferrybridge bio
Green Investment Group loans £38m towards 70MW waste-to-energy project
The Green Investment Group is providing £38m towards the construction of a 70MW waste-to-energy facility in Yorkshire in the UK.
The money is part of a £207m senior debt facility from a syndicate of lenders including MUFG, Crédit Agricole Corporate & Investment Bank, Investec Bank and Banco de Sabadell to fund Wheelabrator Technologies’ stake in the Ferrybridge Multifuel 2 project.
The project is being built by Multifuel Energy, a 50:50 joint venture between Wheelabrator Technologies and SSE.
It will be located adjacent to the Ferrybridge Multifuel 1 project, which started commercial operations in July 2015, and next to the recently decommissioned Ferrybridge C coal-fired power station.
The £38m commitment is the first investment to be completed following the acquisition of the Green Investment Bank (GIB) by a Macquarie-led consortium in August.
The GIB was renamed the Green Investment Group following completion of the deal.
Green Investment Group head Edward Northam said: “This first transaction under Macquarie ownership builds upon our well-established investment strategy.
“Working with Wheelabrator Technologies, we have helped finance the construction of major new energy infrastructure in West Yorkshire and facilitated the continued growth of the UK merchant energy-from-waste market.”
Image: Ferrybridge Multifuel 2 project under construction (Wheelabrator)