EIB to finance viridor´s Cardiff energy recovery facility ERF
The European Investment Bank (EIB) has confirmed that will provide GBP 110 million (US$155 million) to support Cardiff’s Energy Recovery Facility (ERF) owned by Viridor, a Pennon Group company, in the coming weeks.
The Cardiff Energy Recovery Facility is the largest ERF in Wales, treating waste from local authorities and local businesses and diverts at least 95% of non-recyclable waste in South Wales away from landfill. Additionally it generates 30 MW of electricity for the national grid, enough to power around 50,000 households.
The Cardiff Energy Recovery Facility handles 350,000 tones of waste annually. This includes household waste delivered by the five councils that conform the Green Project (Prosiect Gwyrdd) partnership: Cardiff, Newport, Monmouthshire, Vale of Glamorgan and Caerphilly that together represent 40% of the total municipal waste in Wales.
The facility will also receive non-recyclable waste from local businesses and help to divert their waste away from landfill.
2015 represented a record year for the EIB’s engagement across the United Kingdom during which it provided GBP5.6 billion (US$8 billion) to support more than GBP16 billion (US$22.5) billion of overall investment.
Jonathan Taylor, European Investment Bank Vice President, said:
“Significant investment in energy recovery technology allows energy to be recovered from waste that cannot be recycled or reused and would previously have been sent to landfill sites. The new Cardiff Energy Recovery Facility shows how waste is being transformed into vital renewable energy for Wales and reflects the strong environmental commitment of the Welsh government and local authorities already working with the project. World class schemes such as the Cardiff Energy Recovery Facility will be highlighted at the International Green Growth Forum in Cardiff this week.”
Susan Davy, Pennon Group Director of Finance, commented:
“We are delighted that the European Investment Bank is planning to provide funding for another of Viridor’s Energy Recovery Facilities. Viridor now has eight Energy Recovery Facilities in operation across the UK and a further three facilities are progressing well and will be delivered by March 2019. Together these facilities will deliver 242 MW of decentralized energy, transforming waste into a valuable social resource. Pennon Group has a strong relationship with the EIB and we look forward to continuing to work closely together in future.”
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