U.K. Green Investment Bank committed £35 million of senior debt for the construction of a new £180 million waste-to-energy plant in North Wales, the bank announced on Thursday.
Construction of the Wheelabrator Parc Adfer plant is planned to be completed by the end of 2019.
The facility is being built and operated under a public-private partnership with five local authorities in North Wales.
Others lenders for the project include, Mitsubishi UFJ Financial Group, Siemens Bank and Natixis, with Barclays providing an equity bridging loan.
The plant will have a capacity of 18.8 megawatts and generate 133 gigawatt-hours of electricity annually, enough to power more than 30,000 homes.
The plant will prevent up to 200,000 tonnes of non-recyclable waste being sent to landfill each year and help avoid greenhouse gas emissions equaling 21,000 tonnes every year.
By Zeynep Beyza Kilic