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Balfour Beatty & Equitix reach financial close on Welland Waste Wood Power Station

11 Mar 2015

Balfour Beatty Investments & Equitix announces that it has reached financial close on a £51.6m advanced conversion technology waste wood power station located in Northamptonshire. Balfour Beatty will invest £17.2 million, as will each of its two consortium investment partners, Noy Infrastructure & Energy Investment Fund and Equitix.

The 26 month construction programme started in March 2015 and will be undertaken by MWH Treatment Limited. Once complete, the project will convert 60,000 tonnes of dry waste wood feedstock that is being supplied locally by Welland Waste Management Limited, into 9MW of electricity using Nexterra Systems Corp. gasification technology.

The clean electricity generated will be exported to the national grid and will be enough to power more than 17,000 UK households a year and, result in an annual saving of 28,809 tonnes of CO2 against a baseline assumption that the waste wood would otherwise be exported for energy recovery in Northern Europe. The project is expected to create 100 jobs during construction and 19 permanent jobs during operation.

About Equitix:

Equitix was established in 2007 and is based in London. Equitix is an integrated core infrastructure asset management and primary project platform and typically invests in UK infrastructure projects with long-term revenue streams across the healthcare, education, social housing, highways and street lighting, offshore transmissions and renewable and waste sectors. Tetragon (TFG) owns 85% of the business; over time, TFG’s holding is expected to decline to approximately 74.8%. Management own the balance. Equitix Investment Management Limited is authorised and regulated by the UK Financial Conduct Authority. 

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any state or jurisdiction.