SSE forms joint venture to build energy-from-waste plant
Power giant SSE has teamed up with American firm Wheelabrator Technologies to build energy-from-waste plant in northern England.
The joint venture called Multifuel Energy Ltd will build and run the project at Ferrybridge power station, which is situated in West Yorkshire.
The facility will generate electricity using fuel sources like biomass and waste wood. The facility will be capable of handling around 740,000 tonnes of mixed fuel per year.
The power generated by the new plant will be sold to SSE. Paul Smith, managing director of generation at SSE, said that the new plant will ensure reliable energy supplies in the future.
Speaking on the topic, Mr. Smith said, “This plant will provide additional diversity to SSE’s generation portfolio and make a useful contribution to ensuring we have reliable energy supplies for the future.”
The construction of the new £300 million multi-fuel facility will provide work to hundreds of people, and will create more than fifty new full-time jobs once is becomes operational.
Construction on the multi-fuel facility is expected to begin later this year and conclude by the year of 2015.
In the after-hours trading, shares in SSE gained 26p to close at 1,355p-a-share.