Pinnacle Power has successfully been appointed as Operations and Maintenance contractor on a 20- year contract for a 7.75MW Resource Recovery facility in Bridgwater, Somerset.
The appointment follows Equitix, a leading UK infrastructure investor, and Iona Capital, the specialist environmental investment and fund management firm, announcing the acquisition of the £72 million Energy from Waste (EfW) facility.
Pinnacle Power will directly employ up to 25 full-time operational staff and process approximately 100,000 tonnes of commercial and municipal refuse derived fuel per annum, which would otherwise have been destined for landfill. Construction will commence in 2019 and the facility will begin commercial operation in 2021.
Moving into EfW is a natural progression for Pinnacle Power to expand the current energy and district heating business. EfW is a vital part of the low carbon embedded energy business which is key to the medium to long-term delivery of low carbon heat to district heating networks.
The design and build will be delivered by STC Power SRL, a specialist in the supply of small-scale thermal energy plants, and Geminor UK Limited, a leading exporter and supply of Refuse Derived Fuel, will supply the waste.
Toby Heysham, Managing Director, Pinnacle Power said, “We are committed to delivering low carbon energy and working in a circular economy. This exciting project is a pivotal point for our business and is a major step forward for us. We are working to provide both a dependable, cost effective supply of low carbon energy – but also the proof that we can successfully manage waste to help meet both our Carbon and landfill reduction targets. Pinnacle Power are pleased to be in a long-term partnership to operate this plant.”
Geoff Jackson, Chief Executive Officer of Equitix, said: “This new project marks the latest addition to our growing waste portfolio. This is a sector that we see huge opportunities in and are very excited to be working with our partners in developing this top-quality, high-impact facility.”
Nick Ross, director and co-founder of Iona Capital said: “We are very pleased to partner Equitix in the financing of the Bridgwater project which is the first of a number of planned investments in the EfW sector.”