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Helius Energy provides update on its Avonmouth Dedicated Biomass Project

Helius Energy has confirmed that it is working with a number of banks including Lloyds Bank Wholesale Banking & Markets, the Royal Bank of Scotland and Santander Global Banking & Markets, amongst others, to finance its Avonmouth dedicated biomass project, located in the Port of Bristol.

It is anticipated that the project's financial close will occur this summer, following an acceptable announcement regarding the Government's forthcoming Renewables Obligation banding review.

The project, a 100MWe export capacity facility, will provide despatchable, renewable, low carbon electricity as part of the UK's aim to reduce carbon emissions and combat climate change.

It will cost around £300 million (Є367.83 million) to construct, creating approximately 450 full time jobs during the construction phase. Once operational, it will generate 40 full-time operations jobs with more created in relation to the maintenance and supply of the plant.

The facility will be fuelled using a combination of imported wood from a number of countries, including the US, and recycled wood fibre from the local environs.

Helius' intention is to source material that meets the stringent sustainability measures as recommended by the UK Committee on Climate Change, including an average electricity production of below 200kgCO2/MWh.

'Helius is entering the last stages of the process to fund this important biomass project. It will be a significant project for the UK as it transitions to a low carbon economy,' says Helius CEO, Dr Adrian Bowles.