The UK port group PD Ports has secured a £230 million investment to build a waste-to-energy plant in the Tees Valley.
The owner and operator of Teesport has signed an agreement with environmental consulting company Wentworth Clean Power Limited (WCP) to bring the new project to the South of Teesport Commerce Park.
The plant will process 300,000 tonnes of feedstock and have an electrical capacity of 30MW, which is enough to power up to 27,000 homes.
The Teesport Renewable Energy Centre, which is expected to be operational in the second half of 2024, is also forecast to create around 300 new jobs.
James Ramsbotham, Chief Executive of the North East Chamber of Commerce, said, “This announcement is such welcome news on many levels. Attracting such investment at this time of global crisis is a testament to the strength of the region and these jobs are so important to our community.
“Our collective commitment towards net zero remains a top priority and this project will bring us closer to delivering a more sustainable and greener economy for the future.”