Teeside biomass plant to go ahead
A £600 million ($941 million) biomass power plant proposed in Middlesborough, UK has been given the go ahead.
MGT Power will push forward with the project now that the UK government has ruled positively on incentives for renewable energy projects. The new plant is expected to generated 150 jobs, plus hundreds more through the supply chain and construction.
‘This really is the final regulatory hurdle out of the way – we are very pleased,’ says MGT director Chris Moore. ‘The doubts in the minds of UK lenders and equity providers have been removed as far as big biomass projects go.’
MGT’s plans have apparently been in limbo since February while major green energy industries awaited the government decision on the Renewables Obligations Certificate (ROC).
ROC incentivises firms towards green electricity by obliging them to buy a certain amount of their electricity from renewable sources, in turn boosting the green sector.