Malaysian manufacturing giant invests £25m in flagship EfW plant
Malaysian manufacturer KNM Group Berhad is to take ownership of Peterborough's EnergyPark site, following the acquisition of land owner Poplar Investments.
KNM signed a deal with parent firm Poplar Holdings for the subsidiary which owned the land earmarked for the development of the energy-from-waste facility in the east of England.
KNM had earlier signed a deal worth £450m with the developers, Green Energy Parks' (GEP) subsidiary, Peterborough Renewable Energy, in 2010 for the engineering, procurement and construction of the 80 MWe biomass waste-to-power station.
KNM and GEP will now move forward together under a joint venture, Energy Park Investment, to begin construction work on the project.
Once operational, the plant will draw upon a mix of best available technologies to achieve maximum diversion of waste and create renewable energy and recycled products at the same time.
Commenting on the deal, Green Energy Parks' managing director Chris Williams said: "In KNM Group Berhad we have found a partner who shares our ethos, drive and ambition to deliver a landfill-free future."
KNM Group Berhad's CEO Ir. Lee Swee Eng added: "This is a ground-breaking project which will mark an important development in the way that waste is dealt with in the UK.
"We are incredibly excited at the prospect of having a partnership with Green Energy Parks, which forms a significant part of our drive into the renewable and clean energy sector."