Planned to be constructed 22 miles northeast of London, the gasification facility is expected to generate renewable electricity required to power more than 7,000 homes annually. It is estimated to reduce greenhouse gas emissions equivalent to eliminating 16,000 cars from the road.
UK Business Secretary Vince Cable said: "This latest investment by the Green Investment Bank in a gasification plant in Hertfordshire will use technology and parts sourced from British companies and create more than 100 local jobs."
Scheduled to be commissioned in the first half of 2017, the facility will be developed by AssetGen Partners.
Bouygues Energy & Services is the engineering, construction and project contractor while Biomass Power will design the gasification technology.
The 10MWe plant will use more than 90,000t of Refuse Derived Fuel (RDF) as feedstock, to be sourced from the commercial and industrial sectors and supplied by Biffa and Powerday.
The project is expected to create up to 110 engineering, construction and project management jobs as well as 17 full time jobs once operational.
UK GIB CEO Shaun Kingsbury said: "This first-of-kind, high-technology waste facility signals a new phase in the UK waste management sector. The project is a great example of innovation driven by and backed up by some great UK companies."
