Following financial close in December 2020, the 60MWe Energy-from-Waste plant was safely constructed ahead of time, below budget and commences full operations in August 2024
COPENHAGEN, Denmark , Aug. 23, 2024 (GLOBE NEWSWIRE) - Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure IV (CI IV), and joint venture partner SSE Thermal (SSE) have successfully completed construction and commenced operation of the 60MWe Energy-from-Waste plant located within the Slough Trading Estate Greater London area in the United Kingdom.
Slough Multifuel provides a sustainable and environmentally friendly waste management solution for the Greater London area by processing 480,000 tonnes of residual waste per year – and will contribute to the UK government's strategy to reduce landfill and export of waste.
The successful completion of Slough Multifuel ahead of time and below budget took place under challenging market conditions and exemplifies the synergies from a close collaboration between financial and industrial players in the energy sector. During construction, plant capacity was successfully increased from 50 to 60 MW and performance guarantees will provide a high level of operational performance. Further, Slough Multifuel has several mid- and long-term Fuel Supply Agreements in place ensuring stable revenue streams.
Florian Küster, partner at CIP, said: “We are delighted to have reached this significant milestone together with our partners in SSE Thermal. Since 2020 we have worked efficiently side-by-side and we are proud to have delivered a plant that makes a significant contribution to the green transition in the UK and creates value for society, the local community and our investors.”
Finlay McCutcheon, Managing Director of SSE Thermal, said: “Slough Multifuel will fulfil an important role in the UK's electricity system and help divert thousands of tonnes of waste from landfill. The successful delivery of the project is testament to the partnership between SSE and CIP, which spans multiple projects and continues to create genuine value.”
CIP acquired a 50% stake in Slough Multifuel from SSE Thermal in April 2020 and the parties have co-developed the project throughout the remaining development phase. CIP's track record within UK thermal investments dates to 2013 and currently CIP's thermal project delivery experience counts four operational biomass plants and one of Europe's largest energy-from-waste plants currently ongoing construction situated in Lostock, near Northwich in Cheshire.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages 12 funds and has to date raised approximately EUR 28 billion for investments in energy and associated infrastructure from more than 160 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com
About SSE Thermal
SSE Thermal is part of SSE plc and is on a mission to deliver the flexible energy needed today while powering the transition to net zero. Its flexible generation and gas storage sites play a crucial role in keeping the lights on across the UK and Ireland and the company is rising to the low-carbon challenge with its teams at the cutting-edge of vital technologies including hydrogen and carbon capture.
As the UK and Ireland's clean energy champion, SSE could invest in excess of £40bn across the next decade in low-carbon energy infrastructure. For more information visit www.ssethermal.com
For further information, please contact:
Email: media@cip.com
Simon Mehl Augustesen, Chief Communication Officer
Phone: +45 3052 6721
Email: siau@cip.com
Thomas Kønig, Partner – Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.com