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Sustainable infrastructure among £33 billion projects getting support

Date: Wed, 23 Oct 2013 | Author: Paul Sanderson

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A number of sustainable energy projects are among 40 infrastructure schemes that are set to get Government support.

These projects are now at the ‘pre-qualification’ stage that means they are eligible for the UK Guarantee scheme.

While further discussions and due diligence remain, the move could see them secure the Government agreement to act as a guarantor for their project.

If the Government gave a guarantee, it would be for a proportion of the capital value of the project.

Schemes to have reached pre-qualification include:

  • Helius Energy – Avonmouth biomass energy generation is a 100MW capacity facility in the South West expected to produce energy for the National Grid, costing around £300 million to construct and creating approximately 450 full time jobs during the construction phase
  • Chinook Energy plants, producing renewable energy from waste at sites around the UK
  • Gasrec, a producer and distributor of new, low carbon Bio-LNG for UK commercial vehicle fleets
  • Tilbury Green Power 60MW waste wood fired power generation plant in Essex
  • Eggborough Power Limited conversion of coal-fired power station to biomass

Chief Secretary to the Treasury, Rt Hon. Danny Alexander said: “Getting our infrastructure right means we can be globally competitive, boost growth and create jobs across the UK. What we see today is the extent to which the Government is reaching out to help private sector build Britain’s key infrastructure.

“Having passed the first hurdle these companies know the Government is there to help it they need it. I hope today’s announcement will encourage even more businesses to consider how they can take advantage of a guarantee.”

Category: Energy
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