Green Investment Bank buys into Welsh biomass plant

The bank is financing the refurbishment of a Port Talbot biomass plant so that it can run on more waste wood

The Green Investment Bank has bought an £11m minority stake in 14.7 megawatt Welsh biomass plant.

The money is being used to purchase and upgrade Western Bio-energy Limited’s Port Talbot plant. This has been operational since 2008 and generates enough power for around 28,000 homes.

The plant will run on 55% waste wood and operate more efficiently once the upgrade has been completed next summer.

The bank made its investment through a waste and energy fund managed by private equity firm Greensphere Capital. Signia Wealth Management and Stobart were also co-investors in the acquisition.

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