Indaver reaches financial close on the Rivenhall EfW project
The development is set to be built in the footprint of an existing quarry in Rivenhall, Essex and will be a 595,000 tonne per annum, 49.9MWe facility.
The company has been advised on the transaction by PwC (financial), Herbert Smith Freehills (legal) and Fichtner, ARUP and RPS (technical).
All necessary permits - planning permission, an Environment Agency permit and an electricity connection offer - are in place to allow the development to move to the construction phase.
Indaver are financing the project on balance sheet with around £500m of total investment expected.
A significant contract for site development works (which include road, electricity and other utilities) is due to commence later this year. This will be the first phase of a four and a half year construction programme. The EfW facility is expected to begin commissioning in early 2025 and be fully operational by the end of 2025.
John Ahern, Indaver’s UK Business Development Director states, “We are pleased to have reached financial close with Gent Fairhead & Co and are looking forward to work starting on the site later this year”.
Richard Gudgeon, Gent Fairhead & Co’s Financial Director states, “We look forward to working in partnership with Indaver to develop the facility”.
The facility will include the most efficient grate technology and a state of the art gas cleaning system to ensure it will operate to the highest environmental standards.
The facility will provide a solution for residual waste from local authorities as well as commercial and industrial residual waste from the private waste sector.
The project will contribute to the country’s renewable energy and net-zero carbon targets by producing 49.9MWe of predictable electricity from an indigenous fuel source. This is enough to power over 60,000 homes annually, over 50% of which is renewable. The facility will also meet circular economy targets by diverting biodegradable waste from landfill and export, reducing harmful greenhouse gas emission.
For further information on the Rivenhall project please contact John Ahern, Business Development Director at firstname.lastname@example.org, Jackie Keaney, Commercial Director at email@example.com, Gareth Jones at firstname.lastname@example.org or go to www.indaver.co.uk, www.indaver.com and www.rivenhall-iwmf.co.uk .
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