Developers Green Plan Energy have secured funding from the UK Green Investment Bank (GIB) and Equitix to build the facility in Wrexham Industrial Estate.
The 5.4MW biomass plant will generate around 34GWh of electricity per year and can power 2,400 homes.
In addition, it will be combined heat and power (CHP) 'ready', giving it the potential to provide heat to neighbouring manufacturing businesses.
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The facility will be built by Bester Generaciόn UK, who has also been awarded a long-term operations and maintenance (O&M) contract.
A total of £12.25m is being invested in the project from the Equitix-managed fund Energy Savings Investment (ESI), in which GIB is a cornerstone investor.
A further £12.75m is being allocated from the Equitix Energy Efficiency Fund (EEEF).
It is estimated around 60 jobs will be created during the construction phase, with 15 full-time positions upon completion.
Geoff Jackson, CEO at Equitix, said: "We are pleased to have reached Financial Close on another CHP 'ready' scheme in our energy efficiency portfolio. Once operational, we expect it to deliver beneficial carbon savings and make a significant contribution to the environment and creating a sustainable economy in the UK."
(LM)
