£800m Deeside waste incinerator construction to start next month
The project will create hundreds of jobs over the three year build
19th December 2016
Wheelabrator Technologies said they had reached "financial close" for the new 200,000 tonnes per year energy recovery facility Parc Adfer on the Deeside Industrial Park in Flintshire.
It follows the UK Green Investment Bank plc (GIB) committing £35m of senior debt to the construction of the plant.
The lending club also includes Mitsubishi UFJ Financial Group (MUFG), Siemens Bank and Natixis, with Barclays providing an equity bridging loan.
"To achieve financial close is a significant milestone and I'm extremely proud of our team for making this possible," said Wheelabrator President and CEO Robert Boucher.
"This is the result of six years of hard work and negotiations, and I'm excited to welcome our third UK facility to our global fleet."
Wheelabrator Parc Adfer will be a combined heat and power enabled facility which will generate 18.8 MW (gross) / 16.6 MW (net) of sustainable electricity to meet the needs of over 30,000 UK homes and businesses.
The facility will also be capable of providing steam or heat to local industry and housing.
Progress to reach close on this £180 million financing follows the award of planning consent by Flintshire County Council in May 2015 and an Environmental Permit by Natural Resources Wales.
In 2014, Wheelabrator was selected as preferred bidder to build and operate the facility over the next 25 years as a public-private partnership, with support from the Welsh Government to serve the five local authorities that make up the North Wales Residual Waste Treatment Project - Conwy, Denbighshire, Flintshire, Gwynedd and the Anglesey councils.
Wheelabrator said that site preparation work will start immediately and full construction of the facility is set to commence in 2017.
The construction phase is expected to result in hundreds of additional jobs and create around 35 new, full-time operational roles at the facility when plant operations commence in 2019.
"The Parc Adfer facility is an example of our ongoing commitment to investing in new and necessary energy recovery infrastructure across the UK," said Wheelabrator's UK Managing Director Paul Green.
Parc Adfer is Wheelabrator's third energy recovery facility in the UK.
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