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Auction for £1.5bn rubbish-fueled power plant kicks off
Chinese and other investment funds are crowding into an auction for a rubbish-fuelled power plant on the banks of the River Thames that could fetch its owners over £1.5bn. Under long-term contracts with local London councils, barges of municipal waste use the Thames to ferry the rubbish to the plant, which is on the south side of the river near Thamesmead. Strategic Value Partners acquired the plant as part of a debt-for-equity deal worth around £850m before gutting its operations and putting in place a new management team. Historically, waste incinerators in the UK have had a poor reputation, but the industry has been cleaned up.In 2016, almost 10m tons of non-recyclable waste was used to generate power at 37 energy-from-waste plants in the UK.
