The European Investment Bank (EIB) has agreed to provide a €190M loan to Lithuania-based Lietuvos Energija for the construction of a new combined-heat-and-power (CHP) plant in Vilnius, Lithuania.
UK Green Investment Bank (GIB) has approved a senior debt of £80M for the construction of a new energy from waste combined heat and power (CHP) facility near Sittingbourne in Kent, UK.The £340M facility is expected to generate up to 154GWh of renewable energy annually — enough to power 37,500 homes.The 43MW plant is also expected to help reduce greenhouse gas emissions by over 163,000t annually and eliminate around 0.5M t of waste going to landfill.Upon completion, it will supply renewable electricity to the grid and renewable heat to DS Smith’s Kemsley Paper Mill.GIB CEO Shaun Kingsbury said: “This plant will put renewable energy to work for one of Kent’s major employers while helping the UK meet its climate change and waste management goals.“Combined heat and power is a prominent feature of the low-carbon energy infrastructure in mainland Europe and Scandinavia and is one of the key technologies that can help British industry become more efficient, competitive and cleaner.”The project developer Wheelabrator Technologies has received over £300M of debt so far from a lending club that includes GIB alongside Barclays, Bank of Tokyo-Mitsubishi UFJ (BTMU), Natixis and Investec.The facility will create about 500 construction jobs and around 40 full-time operational jobs upon completion. The plant is anticipated to be operational in 2019.
The European Investment Bank (EIB) has provided a €175m long-term loan for the construction of a new industrial combined heat and power (CHP) plant in Kilpilahti, Finland. Estimated to cost €400m, the project will be developed by a joint venture between Borealis and Neste, alongside energy service company Veolia. Veolia will oversee the operation and maintenance of the plant. The project is being funded by the Nordic Investment Bank, BTMU, ING, Nordea, SEB and UniCredit. The new plant will supply heat to the oil refinery and chemicals plant on the site, and provide electricity to the grid.A total of four new steam and power generation assets will offer an installed capacity of 450MW thermal and 30MW electrical power. The new units will replace the old ones, enhance their environmental performance, as well as utilise industrial side streams such as asphaltene that would not be otherwise recovered for energy production. The facility will comply with the latest environmental regulations, and is projected to minimise carbon dioxide emissions by 20% after becoming operational during 2018.EIB vice president Jan Vapaavuori said: “The European Investment Bank strongly promotes energy efficiency and security of energy supply. Therefore, we are glad to foster the construction of the Kilpilahti power plant, which will offer long-term sustainable support to the largest concentration of oil refinery and petrochemical industries in the Nordic region. “The new plant will not only produce electricity and heat with higher efficiency and lower environmental impact, but also ensure a reliable supply of heat to on-site industrial consumers.”