CaixaBank boosts sustainable energy through the financing of a waste treatment plant in the UK
In the UK, CaixaBank said it will finance Viridor for the construction of the Tees Valley Energy Recovery Facility (TVERF), a waste processing plant located in the Tessworks industrial zone in Redcar, around 50 miles from the city of York, in north-east England.
The plant is designed to process waste from seven local authorities in north-east England, with the capacity to convert up to 450,000 tons of waste per year into 49.9 MW of sustainable electricity. The facility is expected to become operational from 2030, CaixaBank said.
This transaction represents CaixaBank’s first project finance operation in the waste-to-energy sector in the United Kingdom, led by the CIB Structured Finance Team, and forms part of the bank’s broader efforts to promote sustainable energy projects.
Category: Fuels
