By: greenbank On: March 01, 2015 In: Comments: 0

GIB, Foresight Group and Zouk Capital LLP made equity investments in the construction of the GB£111 million Levenseat Renewable Energy Limited 12.3 MW energy from waste (EfW) plant and adjacent Materials Recycling Facility (MRF) at Forth by Lanark, Scotland. GIB provided an additional GB£10.3 million to the Foresight UKWREI fund (in which GIB is a cornerstone investor) to allow the fund to invest GB£28.3 million in the GB£111 million project.

The project is also backed by an equity investment from Levenseat Limited and senior debt from Investec Bank plc. The MRF will recover plastics, metals, paper and card for recycling. The project is forecast to recycle over a million tonnes of materials over its lifetime and will generate the heat required by the MRF.

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