Edinburgh-based Brockwell Energy has achieved financial close on its Earls Gate Energy Centre (EGEC), an energy-from-Waste (EfW) facility in Grangemouth, Scotland.
Brockwell Energy launched, funded and led the development of the project over the past three years, working with a team from the Green Investment Group (GIG).
Brockwell will retain 50% stake in EGEC, and GIG, along with its co-investor Covanta Energy, will acquire the remaining 50% stake though a jointly owned vehicle.
EGEC is a 21.5MWe EfW facility that will prevent 216,000 tonnes of household and commercial waste going to landfill each year, and also provide low-carbon heat and power to four local industries, including chemical manufacturer and site utility service provider CalaChem.
Brockwell’s technology provider, Constructions Industrielles de le Mediterranee (CNIM), will provide its moving grate technology, which is well-placed to adjust to changes in the mix of waste over the next 25 years.
Construction is expected to commence in January 2019. The facility is expected to be operational in November 2021, creating nearly 500 jobs during construction and 30 long-term jobs in the operational phase.
Brockwell also intends to deliver local community benefits focused on employment and training, support for local businesses and education programmes.
After delivering the Earls Gate project, Brockwell will focus on delivering its EfW project at Westfield in Fife in Scotland.
The combined heat and power plant will use 216,000 tonnes of mixed household, commercial and industrial waste, which will be converted into 21.5MWh of green electricity and heat in the form of steam.
Planning permission for the Earls Gate project was granted in January 2017 to replace a gas-fired plant.
The project is also expected to enter into a 15-year UK Capacity Market Contract (CMC), ensuring security of supply to the UK’s electricity generation capacity, one of the goals of The Energy Act 2013.
The facility is expected to contribute to the local authority’s ability to achieve the goals of Scotland’s biodegradable municipal waste landfill ban, due on 1 January 2021.
Brockwell Energy, an independent power producer, was formed in 2017 to raise investment capital to develop an £800m portfolio of energy projects, primarily in Scotland and on and around former coal mining sites.
The company concluded the capital raise in October 2018 when Pioneer Point Partners and Davidson Kempner, the US hedge fund, invested in Brockwell alongside its management team.
Image: Brockwell achieves financial close on Earls Gate Energy-from-Waste facility in Scotland. Photo: Courtesy of Bas Emmen on Unsplash.