£7m Sandsfield Heat & Power gets 'off the blocks'
22 December 2008
Equipment orders are now being placed following Friday's signing of all the agreements to fund our latest Joint Venture project
Bioflame signed a long term deal with it's partners, Sandsfield Gravel Company and Climate Change Capital on Friday that paves the way for its latest system delivery. Long lead item orders are now being placed to enable project delivery by December 2009. Climate Change Capital through it's Ventus VCT funds have put up the initial capital to get the project started. Running on low grade waste wood, the plant will export 2.5MW of renewable electricity into the local distribution network. The plant is a 'me too' system built along exactly the same lines as the first at Caythorpe in Lincolnshire. Situated on a landfill site near Brandesburton north of Hull, the plant is well sited to take care of wood waste currently being exported to Belguim or trundled up to Teeside by lorry.
CCCs Ashley Turner said 'We are looking for a defined return for our VCT investors and with our previous experience of the proven Bioflame model we were very happy to put our money where their mouth is. The technology has already been signed off by our bank's consulting engineers Mott Macdonald and we look forward seeing the plant run later in the year'