GIG and Covanta take stakes in Scottish EfW

Brockwell Energy have announced that financial close has been reached on their Earls Gate Energy Centre (EGEC), an energy from Waste (EfW) facility in Grangemouth, Scotland. On financial close Brockwell will retain 50% of EGEC while GIG together with its coinvestor Covanta Energy will acquire the other 50% of EGEC though a jointly owned vehicle. The EGEC is a 21.5 MWe EfW facility that will not only prevent 216,000 tonnes of household and commercial waste going to landfill each year.

The project was launched by Edinburgh-based company Brockwell Energy, who have funded and led the development of the project over the past three years working with a highly experienced team from the Green Investment Group (GIG).

Constructions Industrielles de le Mediterranee (CNIM) will provide a stable, reliable technology solution which is well placed to adjust to changes in the mix of waste over the next 25 years. Construction is due to commence in January 2019 and the plant is anticipated to become operational in November 2021.

The project will (subject to the reinstatement of the Capacity Market) enter into a 15-year UK Capacity Market Contract (CMC), providing greater security of supply to the UK’s electricity generation capacity – one of the goals of The Energy Act 2013.