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.