The Equitix-managed fund Energy Savings Investment (ESI), where GIB is a cornerstone investor, is providing £12.25m, and a further £12.75m of private capital will come from the Equitix Energy Efficiency Fund (EEEF).
Construction on the facility will start soon, with completion planned for March 2017. The plant will produce about 34 GWh of electricity per year, enough to power 2,400 homes.
Green Plan Energy will develop the plant, situated in Wrexham Industrial Estate. The contracts for its construction and operation have been awarded to Bester Generacion UK, part of Span’s Bester Group.
PBS Energo will deliver the plant’s biomass boiler, flue gas cleaning system and electricity generation contract, while Hadfield Wood Recyclers will supply the fuel.
GIB investment banking head Edward Northam said: "Britain’s manufacturing businesses consume huge amounts of heat every year, much of it from non-renewable sources.
"Dual-purpose plants like Wrexham, which are capable of generating renewable electricity and heat for the benefit of local industry, play an important role in greening the UK economy.
"Heat isn’t just a bi-product of the electricity generation process; it is a valuable source of energy in itself."
Once operational, Equitix expects the plant to offer beneficial carbon savings and make a significant contribution to the environment and creating a sustainable economy in the UK.
