United Kingdom -- $160 million euros is being invested into a program that will build a 40 MW waste wood fired power station, and create 500 jobs in the UK.
The project began two years ago. It will provide 40MW of renewable energy to the UK through combustion of waste wood and will consume 250,000 tons of waste wood a year. This facility will also employ 300 people people during construction and 200 jobs on site during the 25 years it is expected to run. The plant will be in an area of high unemployment.
The plant will be able to generate enough renewable energy to power 70k houses and it will provide heat to a nearby property.
David Watson, Chief Executive of Temporis Capital said, "This project will have a significant positive impact on an area that continues to face some considerable economic challenges. We have taken an empty brownfield site and laid the foundations for it to be turned back into production, creating hundred of jobs. We are delighted with the backing that has been shown to this development by the local authority, stockton-on-Tees Borough Council, and the Able Group."