The project has received a multi-million pound investment from energy and environment investment firm Iona Capital. The exact amount invested was not disclosed.
The three wood chip-fuelled CHP plants are to be supplied by Uniconfort, an Italian biomass equipment supplier, and are planned to generate a total of 3 MWe/12 MWth and to come online before the end of this year. They will qualify for Renewables Obligation Certificates (ROCs) and support from the Renewable Heat Incentive (RHI) under the UK’s tariff support mechanism for renewable power and heat.
Phil Wildbur, director of Newbridge Energy, said: ‘Iona Capital’s investment provides us with the catalyst and the confidence to invest and grow our business. Newbridge Energy is now well positioned to expand its biomass operations throughout North Wales and become one of the leading biomass and wood chip producers in the area.’
Iona Capital has previously invested in two biogas power projects in North Wales.