Enfield 12 MW CHP plant project – update
Kedco PLC (AIM:KED) an Irish energy project developer and operator has announced that the Enfield 12 MW Biomass CHP project located North London is moving ahead. Enfield has full planning and environmental permissions for conversion of 60 000 tones of waste timber to heat and electricity. The project is expected to reach financial close Q4 2013.
The company has announced MVH Global Inc as an EPC contractor (Engineering, procurement and construction). Draft contracts has been exchanged after a tender offer. Statkraft Market GMBh is the intended partner for the produced electricity. Grid connection is secured and the majority of feedstock contracts are intended to bed done before closing of the financing. Regarding funding Forsight group has done a due diligence and both parties continue to work towards reaching financial close during Q4 with construction to start immediately following this.
- The project has been developed through Enfield Biomass Limited (“EBL”), which is currently 100% owned by Kedco plc. Over Stg£2m invested in the project to date.
- It is located on a 1.4 hectare site in Enfield, London.