Bioenergy Infrastructure Group invests in 10 MWe Hoddesdon WtE facility
In the United Kingdom (UK), Bioenergy Infrastructure Group (BIG), a specialist investor in the biomass and waste to energy (WtE) sector, has announced the addition of the Hoddesdon energy-from-waste (EfW) in Hertfordshire to its portfolio of bioenergy assets. The 10 MWe Advanced Conversion Technology (ACT) plant will use refuse-derived fuel (RDF) to generate renewable electricity for the national grid, concludes the recent transaction with the Green Investment Group (GIG).
Scheduled to begin commercial operations in 2019, Hoddesdon is a 10 MWe Advanced Conversion Technology (ACT) plant that will use around 105 000 tonnes per annum of refuse-derived fuel (RDF) to generate renewable electricity for the national grid. Situated to the north of London, BIG’s investment in Hoddesdon concludes the recent transaction with the Green Investment Group, which was announced in August 2017.
The transaction furthers BIG’s ambition to strengthen its position as one of the leading investors in bioenergy by more than doubling its assets over the next five years, diversifying its projects and utilising its sector knowledge and investment experience to drive the institutionalisation of the asset class.
Second partnership with HREG
BIG’s investment in Hoddesdon is being made in partnership with the Hancock Renewable Energy Group (HREG), a unit of the Hancock Natural Resource Group, which is a subsidiary of Canada-headed Manulife Financial Corporation.
BIG and Hancock’s co-investment in Hoddesdon is the second project between the two companies to develop UK WtE facilities. Their first collaboration, Energy Works Hull, a 24 MWe biomass power plant due to be operational in 2018, which will provide enough energy to power the equivalent of one-third of all the homes in Hull and will be capable of diverting approximately 250 000 tonnes of commercial and industrial waste from landfill per annum.
The addition of the Hoddesdon facility marks a further expansion in BIG’s portfolio of bioenergy assets, which is now one of the largest in the UK. We are pleased to be investing alongside the Hancock Renewable Energy Group in this transaction, providing another example of how institutional co-investment is channelling further capital into this important sector, said Hamish McPherson, CEO of BIG.