enfinium Skelton Grange waste-to-energy facility achieves financial close
- EPC contractor Hitachi Zosen Inova (HZI) selected with construction commencing later this month
LONDON, July 8, 2021 /PRNewswire/ -- enfinium today reached financial close on a new 410,000 tonnes per annum waste-to-energy facility in Leeds, West Yorkshire.
enfinium Skelton Grange is a combined heat and power facility which will process 410,000 tonnes of residual (post-recycled) waste to generate 49MW (gross) of partially renewable, baseload electricity to power the needs of more than 100,000 U.K. homes. enfinium Skelton Grange will create more than 400 jobs during construction and over 45 full-time jobs, once operational, bringing significant economic benefit and investment to the local area.
"Today marks a significant milestone for the project and a huge step forward to providing capacity for the safe and reliable treatment of waste that cannot be reduced, reused or recycled in the U.K. I'm incredibly proud of our team and our partners who have worked tirelessly and safely throughout coronavirus to make a difference today to deliver a cleaner tomorrow. We are excited to welcome our fifth facility to our fleet and look forward to working with HZI to commence construction this month," said Chief Executive Officer Julia Watsford.
Progress to reach financial close follows planning permission by Leeds City Council in March 2020 and the award of an Environmental Permit by the Environment Agency in December 2020. In January, enfinium Skelton Grange signed two long-term waste supply contracts for over 50% of the facility's annual capacity with SUEZ and Beauparc. Further long-term waste supply contracts were signed with Biffa and B&M Waste in June 2021.
HZI has been named the Engineering, Procurement and Construction (EPC) contractor for the delivery of enfinium Skelton Grange. enfinium has a long and successful partnership with HZI, following the successful construction of nearby waste-to-energy facilities, enfinium Ferrybridge 1 and 2 at Knottingley, West Yorkshire.
enfinium is the largest pure play waste-to-energy business in the U.K. and is a developer, owner and operator of seven strategically located waste-to-energy facilities in operation or advanced development. enfinium is an integral part of the U.K.'s environmental infrastructure, diverting waste that cannot be reduced, reused or recycled from landfills and export, and providing residents and businesses with local, sustainable waste treatment solutions, converting residual waste into heat and partially renewable power. enfinium continues to progress its other two advanced combined heat and power facilities, including 400,000 tonne per annum Kelvin in West Bromwich and 390,000 tonne per annum Kemsley North in Kent.
"We remain fully committed to supporting and investing in the green recovery in the U.K. and developing regional combined heat and power waste-to-energy capacity - with our team now turning our full attention to reaching financial close on enfinium Kelvin later this year. We look forward to continuing to power green communities and the circular economy," Julia Watsford said.
enfinium was advised by Deloitte and Ashurst. Santander, MUFG, Natixis and Credit Agricole are lenders to the Skelton Grange project and were advised by Linklaters.
Notes to editor:
About enfinium
enfinium is the largest pure play waste-to-energy business in the U.K. and is an industry leader in the conversion of non-recyclable residential and business waste into heat and partially renewable power. enfinium currently has a platform of seven (three under advanced development) strategically located facilities across the U.K. Today, enfinium has an annual waste processing capacity of over 2.3 million tonnes, and a total combined electric generating capacity of 247MW (gross) — enough energy to power more than 500,000 U.K. homes. By 2026, the company will have an annual waste processing capacity over 3.5 million tonnes, and a total combined electric generating capacity of 380MW (gross) — enough to power more than 820,000 U.K. homes. The vision "Make a difference today to deliver a cleaner tomorrow" speaks to the company's ongoing commitment to the development of clean and renewable energy solutions for its customers and local communities. For more on enfinium, please visit www.enfinium.co.uk.
About First Sentier Investors
First Sentier Investors are stewards of over €130 billion in assets managed on behalf of a client base that extends across Asia, Australasia, Europe and North America. With more than twenty years' experience in infrastructure investment, it is one of the longest established managers of infrastructure assets on behalf of institutional investors and currently manages approximately €12.0 billion of equity invested across assets in the utility, transport and energy infrastructure sectors in Europe, Australia and North America. The transaction represents an important cornerstone investment of FSI-managed European Diversified Infrastructure Fund III, a European domiciled, euro-denominated fund. FSI operates as a standalone business owned by the Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc.
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