New biomass energy facility to be built in Plymouth
Thursday 27th October 2011
Carbonarius Limited, the Plymouth-based energy and renewables joint venture between The UNA Group Limited and O-GEN UK Limited, has signed a joint venture project with MITIE Asset Management Limited for a 4.3Mw biomass-energy facility at The UNA Group's site in Roborough, Plymouth.
This facility, which will be built and operated by MITIE for the joint venture company O-GEN Plymtrek Limited, and will use O-GEN UK's biomass gasification technology, is intended to be the first in a series of Combined Heat and Power/Energy from Waste plants.
The energy plant, which is due to be operational next summer, will convert 40,000 tonnes of waste wood into renewable heat and electricity each year, reducing carbon dioxide emissions by about 16,500 tonnes a year.
Funding for the project was provided by Close Brothers.
Ian Brooking, director of Carbonarius said: "Energy from Waste ("EfW") projects such as this offer the best of both worlds - a waste solution and a local source of energy; in this case both heat and power. Carbonarius is a leading player in the South West, and committed to developing a series of EfW facilities, using O-GEN's tried and tested technology."
Commenting on the deal, George Wilkinson, the Ashfords LLP Corporate Partner who led Carbonarius' legal team, said: "EfW projects play a very important part in the UK's renewable energy portfolio. Without them we will struggle to meet our renewable energy targets, and not only will they allow UK carbon emissions to be reduced but they will divert waste that would otherwise go to landfill. At Ashfords, we have significant experience advising on EfW and other renewable energy projects, and are very pleased to have been part of the wider professional team that took this project to a successful first stage."
The Ashfords team included Chris Yeo who provided corporate and commercial support and Rebecca Gliddon who dealt with the property aspects of the transaction.
MITIE was advised by White & Case LLP and Osborne Clarke LLP, and Close Brothers by Addleshaw Goddard LLP.
