By: greenbank On: July 01, 2016 In: Comments: 0

GIB committed GB£80 million of senior debt to the construction of a new GB£340 million large-scale combined heat and power energy from waste facility near Sittingbourne in Kent. The plant will generate electricity for the grid and heat for Kemsley Paper Mill in Kent. The project developer, Wheelabrator Technologies Inc, secured more than GB£300 million of debt from a lending club that includes GIB alongside Barclays, Bank of Tokyo-Mitsubishi UFJ (BTMU), Natixis and Investec. The plant is the first large-scale energy from waste facility supported by the Contract for Difference mechanism.

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