We are delighted to announce financial close on the Westfield Energy from Waste (EfW) facility in Fife, Scotland.
The proposed plant will support the pending landfill ban by providing essential waste disposal capacity that will be needed to deal with projected residual waste disposal volumes even taking account of the most optimistic recycling targets. The plant will also be a catalyst for the re-development of one of largest derelict brownfield former coal mining sites in Central Scotland.
Our Technical & Operations Director Neil Young commented: “After many years of hard work, we are delighted to have completed the financing and contracting to enable the construction of this facility. It has been a very challenging economic period and we are grateful for the continuing support of all the key stakeholders involved in the project, including Fife Council and Fife Council’s waste dispoal business, Cireco.”
Switzerland-based Hitachi Inova Zosen (HZI) will design, build and operate the facility. HZI are the world leading global cleantech company, specialising in Energy from Waste and clean gas. HZI are widely acknowledged for designing and building the highest quality EfW plants in the world and are part of the Hitachi Zosen Corporation, one of Japan’s largest industrial and engineering firms.
Construction is due to commence on the 240,000t facility in February, 2022, and the plant is expected to be fully operational early in 2025. The project will create more than 400 jobs during its construction phase and 40 long-term skilled roles once in operation.
The EfW facility will be the leading catalyst to support the development of the wider Westfield site. Brockwell and the landowner, Hargreaves Land Limited, have already engaged with a number of industrial businesses to promote the site, thereby creating further employment opportunities. The plant will bring utilities to the site, as well a offering a cost effective and reliable source of renewable heat and power.
Neil also added: “Our long-term aim is to look at how we can locate other renewable energy schemes within the wider site to enhance our offering to the market and demonstrate our commitment to developing and investing in projects that meet our environmental and social governance criteria.”
Our Commercial Director, Paul Newman, commented: “It has been a long journey from the first inception of the project more than six years ago. The delivery of a facility of this quality more than justifies the significant financial investment we have made and demonstrates it is possible to build and finance high quality merchant energy recovery plants without the need for subsidies.”
He added: “We are also very grateful for the ongoing commitment of our banking group of ABN Amro, NatWest Bank Plc, MUFG and Investec Bank Plc.”