Veolia has been announced as the preferred bidder for Project W2R, the design, construction and operation, of a 300,000 tonnes per annum Energy from Waste plant to convert residual waste from the authorities of Staffordshire, Warwickshire and Walsall, primarily into electricity.
The plant is situated at the Four Ashes site near Cannock, to the north east of Birmingham, and is expected to export 24.5 MW to the national grid. This is sufficient to power more than 30,000 homes. The council is also working on deals to deliver surplus hot water to local industrial and commercial users.
Financial close is expected to occur later in 2010, with a construction period of three and a half years. The incinerator is expected to operate for 25.5 years.
Operis provided full financial model due diligence services to Veolia.
