Multifuel Energy Completes Project Financing of USD270 Million for Ferrybridge Multifuel II Biomass Power Plant in Yorkshire County, UK

Published: Sep 07 2017
Deal Summary

Multifuel Energy Ltd, a biomass power generation company, has completed the project financing of GBP207 million (USD269.9 million) for the construction and development of Ferrybridge Multifuel II biomass power plant located in Knottingley, Yorkshire county, England, UK. The financing was provided by The Green Investment Group (GIG) (formerly Green Investment Bank), MUFG, Credit Agricole Corporate & Investment Bank, Investec Bank plc and Banco de Sabadell S.A. The total installed capacity of the power plant will be 70 MW and is expected to generate enough energy to power 170,000 households.

Of the total financing, GBP38 million (USD49.5 million) was provided by Green Investment Group. The construction of the power plant is expected to start by the end of 2016.

Hitachi Zosen Inova will provide engineering, procurement and construction (EPC) services to the project. Multifuel Energy is a 50/50 joint venture project between SSE plc and Wheelabrator Technologies Inc.

Ashurst acted as advisor to Wheelabrator, while Linklaters LLP acted as legal advisor to the banks with respect to the transaction.

Earlier, On June 29, 2016, Multifuel Energy agreed to invest GBP360 million (USD479.08 million) in the Ferrybridge Multifuel II biomass power plant.

Earlier, in October 28, 2015, Multifuel Energy agreed to invest GBP300 million (USD460 million) in the Ferrybridge Multifuel II biomass power plant.

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