Belfast Telegraph

Saturday 19 April 2014

Green bank to announce backing for first project

The Government said the Green Investment Bank will help the UK take advantage of the transition to a low carbon economy
The Government said the Green Investment Bank will help the UK take advantage of the transition to a low carbon economy

The Green Investment Bank – set up by the UK government to encourage private sector investment in renewable energy or energy-efficient projects – is set to unveil its first Northern Ireland investment today.

Its Belfast-born chief executive Shaun Kingsbury said earlier this year that there were a number of energy from waste projects in the province which could attract funding from the bank.

Those include the Arc 21 Becon energy from waste incinerator project in Mallusk, Co Antrim, and a mechanical biological treatment and gasification plant in Londonderry for the North West Region Waste Management Group. Planning permission has already been granted for the latter project.

And in one of his final approvals before handing over the job of Environment Minister to Mark H Durkan, Alex Attwood granted planning permission to a gasification project in Lisburn led by an English group which has formed the company, Lisburn Energy Recovery Ltd. Mr Attwood said: "This facility will deal with our waste, prevent landfill and create renewable energy."

Meanwhile, Bombardier has also applied for planning permission for a renewable energy plant close to its Belfast headquarters. The energy produced would be used to power Bombardier's plant.

However, it's understood today's announcement does not relate to any of the above projects.

Speaking in April this year, Shaun Kingsbury said that where renewable projects were struggling for funding, "we can come in and join the consortium of banks or equity investors and help them across the line".