Edinburgh-based independent power producer Brockwell Energy has reached financial close for the Earls Gate Energy Centre (EGEC), an energy from Waste (EfW) facility in Grangemouth, Scotland.
Brockwell Energy has launched, funded and developed the project over the past three years, working with a highly experienced team from the Green Investment Group (GIG).
Following the financial close, Brockwell will be holding 50% of EGEC while GIG and its partner Covanta Energy gets the other 50% of EGEC though a jointly owned vehicle.
The EfW power plant is capable of using 216,000 tones of mixed household, commercial and industrial waste to produce 21.5MWe energy each year.
The plant use wastes, which otherwise will be going to landfill, and also provides low-carbon heat and power to four local industries including chemical manufacturer and site utility service provider CalaChem.
Brockwell CEO Alex Lambie said: “The success of EGEC reflects the skills and dedication of the Brockwell and GIG teams and delivers a new world-class renewable CHP facility to support the site. This is the first of a number of EfW projects that we will build over the next three years.”
Constructions Industrielles de le Mediterranee is expected to provide continuous and reliable technology solutions to adjust changes in the mix of waste for the coming 25 years.
Construction of the plant is expected to start by January 2019 and is anticipated to become operational by November 2021. The plant is expected to create up to 500 jobs during construction and 30 long-term jobs in the operational phase.
Following completion of the Earls Gate project, Brockwell’s is moving its attention towards their EfW project at Westfield in Fife, another important project located in Scotland which is intended to deal with capacity shortfall.
GIG Europe head Edward Northam said: “2017 saw Scotland recycle more waste than it sent to landfill. This is a fantastic achievement but there remains a lack of capacity to unlock the value to businesses and households from converting residual waste into low-carbon energy.
“The Earls Gate facility will play a major role in changing that. GIG is very proud of its Scottish roots and base in Edinburgh. Earls Gate is our nineteenth investment in Scotland and we’re delighted it will further support the decarbonisation of the Scottish economy.”