UK biomass developer sells another plant project

OREANDA-NEWS. UK biomass developer Eco2 has concluded the sale of a 40MW dedicated biomass power project, opening the way for construction to begin immediately and be completed by spring 2017.

The planned Margam waste wood-fired plant in South Wales has been purchased for ?160mn (\$243mn) by Glennmont Partners. A 14-year waste wood supply agreement for the Margam plant has been signed with Stobart Energy for 250,000 t/yr.

The plant is eligible for subsidies under the UK's renewable obligation (RO) scheme and will be included within the scheme's 400MW cap for dedicated biomass power

Meanwhile, construction has begun at Eco2's 44MW Snetterton dedicated straw-fired biomass plant in East Anglia following a similar sale to an investor concluded last November. Completion is also due by mid-2017 and the plant is similarly eligible for subsidies under the UK's RO scheme. The company has signed a fuel supply agreement for the next 12 years.