The partners behind a 42 MW energy from waste (EFW) project in the UK have reached financial close.
Covanta Holding, Biffa and Macquarie’s Green Investment Group (GIG) will build the Newhurst project in Leicestershire, central England, with commissioning scheduled for 2023.
Newhurst will process 350 000 t/a of non-recyclable waste into energy. Waste firm Biffa will own 50 per cent of the facility and will be the primary waste supplier, while Covanta will operate the facility under a long-term operations and maintenance agreement.
Construction of the facility is expected to take approximately 39 months to complete and will be led by Hitachi Zosen Innova (HZI), a global leader in EFW engineering and construction under a turnkey Engineering, Procurement and Construction (‘EPC’) contract.
“The Newhurst EFW facility will provide important sustainable waste treatment capacity in the drive to move non-recyclable waste away from landfill and combat climate change,” said Covanta CEO and President Stephen J Jones.
Analyst firm Cornwall Insight provided a comprehensive end-to-end PPA tender support service to the project partners to support the investment. This included developing the PPA tender criteria, managing all aspects of the tender process, commercial and contractual assessment of the PPA offers, and the provision of ongoing support throughout the contract negotiation process to the partners and their advisors.