Stobart biomass arm to fuel new power plant

STOBART, the transport and logistics group, says its biomass division has won a contract worth £75m over 15 years to supply a new renewable energy power station in Northern Ireland.

The £80m Evermore Renewable Energy Plant, a 15.8 MWe recycled wood fuelled combined heat and power (CHP) station is to be constructed in Derry and is expected to be operational by summer 2015.

Stobart Biomass will supply the plant with more than 115,000 tonnes of recycled wood a year and is contracted to supply fuel for 15 years. The Ggoup said it expects to generate revenues of approximately £75m over the life of the contract.

Funding for the Evermore plant has been provided principally by the UK Waste Resources & Energy Fund (UKWREI), a fund managed by The Foresight Group and in which the Government’s Green Investment Bank plc is a major cornerstone investor.

Andrew Tinkler, chief executive of Stobart, said: “Stobart Biomass is seeing increased demand for its range of products across the UK and is pleased to support Evermore with this key development in Derry. Stobart Biomass has an extensive pipeline of opportunities.We look forward to helping plant developers and funders to bring those opportunities to fruition and growing our Biomass business.”