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A Scandinavian consortium has bought out a project to build a straw-power biomass plant in a deal worth £160 million.
Eco2 has sold its 40MW biomass project in Brigg, Lancashire, to BWSC PLC – a joint venture between Burmeister & Wein Scandinavian Contractor (BWSC) and PensionDanmark.
This sale comes after the UK government decided to cap subsidies for biomass plants until 2017.
PensionDanmark has taken invested £128 million into the project, while BWSC, who will build, operate and maintain the facility for 15 years, has invested £32 million.
The 40MW plant, which will be primarily fuelled using locally sourced straw, is expected to be in operation by 2016, and will be based on technology developed in Denmark.
Darren Williams, Eco2’s commercial director, said: “There is clearly an appetite for this kind of project with investors in the UK and internationally.”
Anders Heine Jensen, chief executive at BWSC, said: “This is a breakthrough for Danish energy technology exports and for UK funding mechanisms.”
Eco2 and BWSC are also working together to build a similar straw-powered plant, the 38MW facility in Sleaford, Lincolnshire.
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