Developer Real Ventures has announced plans to build a second biomass-fuelled CHP plant in the UK.
The company is set to build a £130 million (US$211 million) wood-pellet burning plant in the Port of Immingham in Lincolnshire.
This follows plans announced last year to construct a £130 million facility on the Isle of Wight. Both plants will have a capacity of around 50MW of electricity capacity, as well as the ability to produce 130MW of heat.
Real Ventures expects planning permission to be granted by the end of the year, with construction beginning in 2012 and completion scheduled for 2014.
As well as selling electricity to the grid, the plants will make the heat generated from burning the wood pellets available to adjoining factories, buildings and industry.
Real Ventures has raised £130 million for each project from private shareholders to carry the plants through the development stage, although it expects equity investment and debt to be used to finance construction.
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