Real Ventures to invest £260m in two biomass plants
In the UK, Real Ventures is looking to invest £260 million (€290 million) in the construction of two biomass-powered plants.
In 2010 Real Ventures revealed plans to build a £130 million facility in the Isle of Wight but has since further developed these plans and will erect a second wood-pellet burning plant in the port of Immingham in Lincolnshire.
The company is yet to receive planning permission for the two facilities but Ray Tucker, CEO of Real Ventures, hopes to have been granted this by the end of 2011. The projects will then break ground in 2012 before completion in 2014.
Both the Isle of Wight and the Immingham plants will generate approximately 50MW of electricity for the national grid and 130MW of heat, to be made available and sold for use in adjacent facilities.