Smartest Energy has signed what it claims is one of the largest power purchase agreements to date in the energy-from-waste sector.
The Marubeni-owned firm has agreed a 15-year deal to take power from the new facility at Newhurst, Leicestershire. It is expected to be operational by 2023 and will have a power generation capacity of 42MW.
Biffa and Covanta are behind the plant, along with with Macquarie’s Green Investment Group. The joint venture is also proposing a plant at the Protos Energy Park near Ellesmere Port in Cheshire.
Cornwall Insight conducted the PPA tender process, which Smartest says has a number of bespoke features to enable additional returns through future routes to market as opportunities emerge.