- Kibo will acquire a 54.54% equity stake for £3 million, subject to funding.
- EQTEC retains a 45.46% equity stake and leads project development.
- The plant will generate 25 MWe from refuse-derived fuel.
- Construction starts early 2022, operational by end of 2023.
Project Overview
EQTEC plc and Kibo Energy plc are partnering to develop a 25 MWe waste-to-energy plant in Billingham, UK. The plant will utilize refuse-derived fuel (RDF) to generate electricity.
Equity Stakes and Investment
Kibo Energy will acquire a 54.54% equity stake in the project SPV for £3 million, contingent on securing funding. EQTEC will retain a 45.46% equity stake and will continue to lead the project's development.
Development and Construction Timeline
The project is at an advanced stage, with planning permission granted and a grid connection offer secured. Construction is expected to commence in early 2022, with the plant anticipated to be operational by the end of 2023.
Significance
This project is expected to be one of the first commercially successful gasification plants in the UK, contributing to waste reduction by diverting refuse from landfills.
