Balfour Beatty, Equitix and Noy today reached Financial Close on a £52 million advanced conversion technology waste wood biomass project located at Welland in Northamptonshire. Each of the three sponsors will invest around £17 million into the project.

The project will convert locally sourced feedstock into 9 MW of electricity using gasification technology developed by Nexterra. This clean electricity will be exported to the national grid and should be sufficient to power 17,000 households in the UK and cut annual CO2 emissions by around 29,000 tonnes.

Operis developed a financial model for the sponsors and assisted them in gaining approval for the investment in the project. An independent team from Operis also provided a model audit for the consortium.

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