BWSC acquires the Tilbury Green Power Project.
It is a delight to announce that power plant specialist BWSC, in consortium with technology supplier Aalborg Energie Technik a/s (AET), has achieved the Tilbury Green Power biomass project. The project includes a 40 MW waste wood-fired power plant located directly at the Thames River in Tilbury, near metropolis London.
The Tilbury Green Power facility is expected to generate 300 GWh of green electricity per year, enough to power more than 80,000 homes, when it is commissioned in July 2017.
The total investment is approx. DKK 2 billion/EUR 265 million. In addition to the EPC contract, a 20-year Operation & Maintenance contract has also been signed as part of the project.
The new power plant will be owned by a consortium of UK ‘Green Investment Bank’ (GIB) and Irish Utility ‘Electricity Supply Board’ (ESB) as majority shareholders, and AET as minority shareholder. Additionally, senior debt funding is being provided by Danish Export Credit Agency (EKF), Investec and Rabobank. EKF is owned by the Danish state, and this strong backing is in line with the BWSC strategy of supporting customers with financing solutions as part of the turnkey delivery. The Tilbury project is the third biomass power plant project in co-operation by EKF and BWSC.
Anders Heine Jensen, CEO of BWSC A/S states:
“BWSC is very proud of being part of the team who, together with our strong partners, have taken the Tilbury project to Financial Close. This deal follows last year’s successful Financial Closure of the Widnes plant and demonstrates BWSC’s strong commitment in providing sustainable energy solutions to the UK.”
”We are thrilled to be able to support growth in export and job creation within the renewable energy sector, among others”, says Anette Eberhard, CEO of EKF, and continues: “BWSC has built a solid platform for biomass projects in the UK and we are proud to be on board”.
About the project:
The 40 MW Tilbury Green Power facility will be powered by approx. 285,000 tonnes of waste wood each year, and can handle wood material from e.g. construction sites. Due to the location close to London, the power plant will be given a function to reduce the amount of waste in the city. Up to 300 jobs will be created during the construction phase and nearly 50 permanent jobs in on-going operations.
This project represents a good opportunity for BWSC to meet its strategic objectives, and the collective know-how and experience from e.g. the Western Wood, Widnes and Lisahally projects will be exploited to make Tilbury Green Power a success for all involved.