A plan for a £111 million energy from waste plant has received a major boost.
The UK Green Investment Bank, Foresight Group and Zouk Capital LLP will today announce equity investments in the construction of Levenseat Renewable Energy’s new 12.3MWe facility and adjacent materials recycling operation at Forth.
The taxpayer funded Green Investment Bank’s £28.25m stake was made via UK Waste & Resource & Energy Investment, a Foresight-managed fund in which the bank is a cornerstone investor. The project is also backed by an equity investment from Levenseat Ltd and senior debt from Investec Bank plc.
This will be the first time a UK plant has combined fluidised bed gasification technology with refuse-derived fuel.