The acquisition was completed with UK Green Sustainable Waste and Energy Investments (UKGSWEI) fund, managed by Greensphere on behalf of the UK Green Investment Bank, and significant funds from Signia investors.
Greensphere has sourced a significant minority of the investment from UKGSWEI, while the majority of the remaining funds were sourced by Signia.
Western Bio-Energy has started construction of the plant in 2006 and began commercial operations in October 2008. The plant, which has created 200 construction jobs then, burns approximately 160,000 wet tonnes of feedstock per annum to produce electricity, sufficient to power 28,800 homes.
The plant will receive feedstock as part of an exclusive master framework agreement between Greensphere and Stobart Biomass for the supply of up to 1,000,000 tonnes of biomass fuel annually into the Port Talbot plant and other potential plants Greensphere will acquire or develop.
