Bombardier Energy Park, a new 14.85MW Energy from Waste (EfW) plant located in Belfast Port, Northern Ireland, reached financial close on November 2, 2015.
The plant will be developed by Full Circle Power, a consortium comprising River Ridge Recycling and NWP Recycling, and will convert 120,000 tons of commercial and industrial waste to energy annually.
Expected to be operational in late 2017, the electrical output generated from the plant will be bought by Bombardier Aerospace, a manufacturer of planes and trains, on a long-term fixed price contract. This energy will be enough to fuel one of Bombardier’s aircraft wing factories located nearby.
The new facility is being financed through a joint venture, Full Circle Generation, formed by Equitix, the Green Investment Bank, P3P Partners and RiverRidge Recycling. The total financing of £107 million is being provided entirely by the project’s shareholders.
On behalf of the shareholders, Operis was pleased to provide an audit of the financial model representing the transaction which included a review of the model’s tax and accounting.