Cory operates a 750,000 tonnes per year capacity EfW plant in Belvedere and last year it reached financial close on a second site to sit adjacent to this plant, scheduled for 2026 (see letsrecycle.com story).
This consultation period will extend from 18 October 18 to 29 November 2023.
According to Cory, the project holds the potential to capture approximately 1.3 million tonnes of carbon dioxide annually by 2030. By doing so, it aims to decarbonise the waste management process across Cory’s existing and under-construction energy from waste plants.
The company works directly with eight London boroughs including Hammersmith and Fulham, Lambeth, Wandsworth, Bexley, Tower Hamlets, the Royal Borough of Kensington and Chelsea, Barking and Dagenham, and the City of London.
Milestone
Richard Wilkinson, project director at Cory said: “This is a major milestone for Cory and our work to decarbonise the waste we process. We want to share our proposals with as many people as possible during our consultation events; the feedback we receive will then be taken into consideration as we refine our plans before submitting an application for Development Consent.
“We know that we need to reduce our carbon impact and get to net zero. Installing carbon capture and storage technology is recognised as being the best approach for EfW facilities to reduce their carbon dioxide emissions, and Cory is committed to having a lasting and positive impact on the world around us. We want to ensure that communities living and working in the area have a chance to inform and influence the proposals we’re developing.”
Carbon capture
The use of carbon capture at EfW plants is of growing importance to operators in large part because the emissions trading scheme is due to be extended to cover the sector from 2028.
This means that operators will be charged a set rate per tonne of carbon emitted. With carbon capture technology installed, some facilities could even become ‘carbon negative’, which would mean they could even sell carbon credits.
Growth
This comes after in June of this year Cory published its annual report for 2022 which shows that its revenues grew by 32% to £182.8m and tonnages diverted from landfill have also risen to 969,000 tonnes.
The increased revenue comes from a £21.7m boost from the McGrath acquisition at the start of 2022. Like-for-like revenue is up 15% to £161.1m “due to strong revenue growth through increased processing and higher electricity prices”.
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