Gren Energy acquires 50% stake in South Clyde EfW plant

Macquarie Asset Management has reached an agreement to divest its 50 percent stake in the South Clyde Energy Centre to Gren Energy.

Expected to enter operations in 2026, South Clyde Energy Centre is an Energy-from-Waste facility, and will aim to process up to 35,000 tonnes of residual, non-hazardous, non-recyclable waste.

The facility is also said to be generating approximately 45 Mwe of electricity – enough to power the equivalent of 70,000 homes.

Alongside Fortum, Macquarie Asset Management invested in the South Clyde Energy Centre in 2022.

This move from Gren Energy is in line with its strategy to invest up to £1 billion in low carbon infrastructure and local energy systems in the UK.

The company also recently announced that it plans to invest more than 200 million euros in a yet-to-be-built EfW plant in Acone, Latvia. The plant will be connected to the local district heating network providing affordable and decarbonised heat.

Ilkka Niiranen, CEO of Gren, said: “Gren develops and delivers energy solutions to meet the daily needs of our customers and communities. We bring our extensive EfW and district heating track record in the Baltics, our expert team and significant private sector investment to this unique project. It presents an exciting opportunity for Gren to invest in and further develop, with our partners, a key asset in the most populous city in Scotland and the third most populous in the UK.”

‘Secure, affordable and sustainable’

Mike Reynolds, CEO of Gren Energy Limited, said: “Gren is growing its business in a way which is strongly aligned with Scotland’s ambition to be a prosperous low carbon economy, with secure, affordable and sustainable energy.

“The facility at South Clyde provides an excellent opportunity for heat sales into a district heating network and with nearly 500GWh of potential heat demand located within 2km, we are very supportive of Glasgow council’s proposals to develop a district heating network in this area.

“We have been encouraged to invest in Scotland by policy drivers supporting the development of low carbon generation and heat networks and we believe South Clyde Energy Centre will play a critical role in delivering the Scottish Government’s landfill ban, when it comes into effect in 2025.”

Gren entered the UK market back in May 2023, following the acquisition of CHP, EfW and biomass assets.

Local community

Gren has said it is now working with Fortum to ensure South Clyde Energy Centre will be operational by the end of 2026. It will also be enabled for heat offtake, giving it the potential to provide heat to local businesses or district heating systems. Once operational, the centre will be expected to create around 40 permanent on-site jobs, and 500 during the construction process, as well as provide supply chain opportunities for local businesses.

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