Stobart Energy Signs 14-Year Deal To Supply Teesside Biomass Plant

Stobart-wood-biomassStobart Energy has signed a 14-year deal to supply Teesside’s waste wood-fuelled biomass plant at Port Clarence.

Stobart Energy will source, process and supply 250,000 tonnes of recycled waste wood to Port Clarence each year over 14 years, equating to 3.5m tonnes over the life of the agreement.

Stobart said Port Clarence is set to start operations in early 2018.

Stobart Energy’s transport business will be responsible for transportation of the product, delivering 250 loads each week to Port Clarence over the agreement, generating additional revenue for the energy division.

“The Board of Stobart Group Limited, the support services and infrastructure group, is pleased to announce the signing of a 14 year index-linked fuel supply agreement to a 40MWe waste wood-fuelled biomass plant at Port Clarence, Teesside, which has successfully reached financial close today”

In a statement the Stobart Group stated: “The Board of Stobart Group Limited, the support services and infrastructure group, is pleased to announce the signing of a 14 year index-linked fuel supply agreement to a 40MWe waste wood-fuelled biomass plant at Port Clarence, Teesside, which has successfully reached financial close today. The supply will commence in late 2017.

“Port Clarence is scheduled to commence operations in early 2018 and will generate revenue for the Group’s Energy Division.”

Eco2 is developing the Teesside project and has previously developed other biomass projects at Margam, Sleaford, Snetterton, Port Talbot and Brigg, and Temporis Capital.

The project is being funded by equity from Glennmont Partners and project finance from a club of lenders.


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