Combined heat and power plant gets go-ahead with GIB injection

A joint £14.6m investment between the Green Investment Bank and Equitix has allowed the construction of a new biomass plant in Sheffield

A joint £14.6m investment between the Green Investment Bank (GIB) and Equitix has allowed the construction of a new biomass plant in Sheffield.

The combined heat and power (CHP) plant will cost £30m in total and generate 6.5MW of green energy once complete in 2017.

Ed Northam, head of investment banking at the GIB, said the bank is pleased to be able to help small-scale projects like this get off the ground.

“It is a project that typifies the role of the GIB in helping developers to utilise innovative technology to create new sources of green power to cut carbon emissions and create important local benefits for communities,” he said.

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