Latest Public Sector News

28.11.13

Energy recovery centre to convert London waste

A new £244m rail interchange and energy recovery centre will use household waste to provide energy and cut CO2 emissions. With £20m investment from the UK Green Investment Bank, the Severnside Energy Recovery Centre (SERC) will support up to 200 jobs during construction and 53 permanent jobs once fully functional.

Up to 300,000 tonnes of residual household waste will be converted into energy each year, enabling the waste from six west London boroughs to be diverted from landfill.

The project is part of a 25 year contract between West London Waste Authority and a consortium led by SITA UK, including Scottish Widows Investment Partnership (SWIP) and the Itochu Group.

Shaun Kingsbury, chief executive officer of the UK Green Investment Bank, said: “This is a model investment for us. Our mandate is to help mobilise significant sums of private money to invest in important UK infrastructure projects that are both green and profitable. With this project, every £1 of GIB investment brings £11 of other capital, much of it from international investors.”

“The project will bring about an immediate environmental benefit; instead of residual waste from 1.6 million people being sent to landfill each year, it will be used to create enough energy to power the equivalent of 50,000 households.”

David Palmer-Jones, chief executive officer of SITA UK, said: “I am delighted that we have managed to reach financial close just over six months after being announced as preferred bidder, which is testament to the hard work of all involved.

“We now look forward to working with the Authority to make best use of these valuable materials.”

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