Iona Capital is investing in a UK energy from waste (EFW) plant via Binn Group.

The specialist investment manager is investing an undisclosed amount in Binn’s 8.6MW EFW plant at their Binn Eco Park near Perth, Scotland.

The plant will provide power to existing occupiers of the industrial park and export power to the national grid. Construction of the EFW plant is scheduled to start later this year, with the start of commercial operations earmarked for 2024.

Nick Ross, director at Iona Capital said: “Binn Group are a strong local partner and the project delivers all of the necessary criteria that we typically seek: a proven technology, a secure fuel supply and a long-term offtake agreement.”

The investment is Iona’s second investment in a UK EFW plant.

Allan MacGregor, CEO of Binn Group said with the support of the Iona Capital team, the plant will be in operation in good time for meeting the ban on landfill of biodegradable municipal waste which comes into effect in 2025.

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