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Helius Energy in talks over financing of UK biomass electricity plant

30 Apr 2012 14:52:43 | edem

UK-based generator Helius Energy is working with a number of large banks to provide funding for a 100MW biomass-fired electricity plant in Avonmouth, Bristol, southwest England.

The company confirmed that Lloyds Banking Group, Royal Bank of Scotland and Santander are among the banks that will project finance the plant's development.

Confirmation of project financing for the site from a host of UK banks represents a major step forward for Helius, which has faced an uphill struggle in finalising the site's development since it was granted planning permission in 2008.

The company said the project's financial close was expected over the summer, subject to an "acceptable announcement" in relation to the government's renewables obligation branding review, which will allocate subsidy levels for renewable electricity generation (see EDEM 21 October 2011).

Construction costs are estimated at around £300m.

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