A major waste to energy facility to be built in North Yorkshire has received backing worth £183 million.
The European Investment Bank said it is providing £150 million while the UK Green Investment Bank has pledged £33.1 million for the waste treatment plant – the first joint investment between the two organisations.
Once completed, the Allerton Waste Recovery Park is expected to process up to 320,000 tonnes of household, commercial and industrial waste every year. It will generate 203GWh of electricity every year, enough to power more than 40,000 homes.
North Yorkshire County Council (NYCC) and City of York Council have signed a contract with waste management facility AmeyCespa, which will operate the plant.
NYCC said in a statement: “Both NYCC and AmeyCespa can now embark on a long term partnership that will secure the future for sustainable and cost effective waste management in North Yorkshire for over 25 years.
“The anticipated long term savings on costs of waste treatment are £250million over the life of the contract.”