Viridor has 11 energy recovery facilities across the UK, with an overall generating capacity of 337MW
One of Viridor’s waste processing facilities in the UK. (Credit: Viridor.)
Macquarie Infrastructure Debt Investment Solutions (MIDIS) has announced a debt investment of £120m in a portfolio of energy from waste assets operated by Viridor.
Viridor has 11 energy recovery facilities across the UK that process nearly 3.1 million tonnes of non-recyclable waste annually. The portfolio represents nearly 337MW of installed capacity.
The company also has a pipeline of projects under development which include plastics recycling facility that is expected to begin operations later this year.
MIDIS senior vice president Eric Henschel said: “Viridor is a welcome addition to the MIDIS portfolio and in line with our strategy of supporting the development of sustainable infrastructure businesses.
“With its advanced energy recovery facilities and commitment to the circular economy, Viridor is helping to power communities across the UK whilst reducing the amount of waste sent to landfill each year.”
MIDIS financing to replace shorter-term debt raised by KKR funds for Viridor acquisition
MIDIS’s long-term secured debt financing will replace a shorter-term debt raised by Kohlberg Kravis Roberts managed funds for its £4.2bn acquisition of Viridor.
In July, Pennon Group completed the sale of Viridor to funds advised by KKR.
Since its inception in 2012, MIDIS has offered over £1.5bn in debt financing to support the UK’s transition to a low-carbon economy.
The institutional lender has provided financing to majors borrowers across the energy from waste, onshore wind, offshore wind, and solar PV sectors.
In August last year, Viridor inaugurated the Glasgow Recycling and Renewable Energy Centre (GRREC), a waste and renewable energy hub in Glasgow, Scotland.
The GRREC facility, which has been built on the southside of Glasgow will divert more than 200,000 tonnes of the city’s waste from landfill every year to produce electricity for 26,500 households.