Green Investment Group, the specialist green energy project developer and investor, and Covanta, the world’s leading energy-from-waste (EfW) owner and operator, announced financial close on the acquisition of a 50 per cent stake in the Earls Gate Energy Centre (EGEC). EGEC is a 21.5 MWe combined heat and power energy-from-waste facility located in Grangemouth, Scotland. EGEC will prevent 216,000 tonnes of mixed household, commercial and industrial waste from entering landfill per annum. Instead, the waste will be converted into 79GWh of green electricity and 81GWh of heat in the form of steam each year. Working closely with co-investor and developer Brockwell Energy who own the remaining 50 per cent stake, the facility will become a direct source of reliable, green, low-cost energy for local businesses located at Earls Road. Chemical manufacturer and site service provider, CalaChem, has entered into a long-term Energy Supply Agreement (ESA) for the offtake of electricity and steam produced by EGEC. The total project value is approximately £210 million.
