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14/10/2015

£138m Biomass Plant Project Reaches Financial Close

A £138m biomass power station project in Northumberland has reached financial close, Mott MacDonald has announced.

The firm is acting as lenders' technical advisor on behalf of Barclays Bank, who is providing £90m towards the scheme.

The new 27MW biomass combined heat and power plant in Cramlington will provide green electricity and heat to adjacent pharmaceutical businesses.

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It is to be fuelled with sustainable forestry by-product sourced from the local area.

Mott MacDonald has completed a technical and environmental review of the scheme and the consultancy will now monitor the construction works until the project is completed in 2017.

Nick Escott, Mott MacDonald's project director, said: "Our low carbon advisory team have thoroughly analysed the technical, environmental and commercial aspects of this project and is delighted that our advice has helped the project reach financial close."

(LM/MH)

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