Energy firms flock to Government’s £40bn guarantee scheme

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Announcing that energy, road and rail projects worth £33bn have passed the “first hurdle” to joining the inititative, the Government hailed the high level of interest from gas and electricity companies as “helping ensure that Britain develops a sustainable future energy supply”.

Of the 40 applications announced so far, 15 have agreed to be named. The latest of these include Helius Energy’s £300m, 100 megawatt (MW) biomass plant in Avonmouth, Bristol; the £400m Islandmagee gas storage project in Northern Ireland; and two Intergen gas-fired power generation projects at Spalding in Lincolnshire and Gateway Energy Centre in Essex.

Non-energy applications to the guarantee scheme include the Countesswells mixed-use development in Aberdeen, which will see 3,000 homes built alongside “business spaces and retail outlets”; the relocation of Northampton University and the redevelopment of a campus at University of Roehampton.

Chief Secretary to the Treasury, Danny Alexander, said: “Getting our infrastructure right means we can be globally competitive, boost growth and create jobs across the UK.

“What we see today is the extent to which the Government is reaching out to help the private sector build Britain’s key infrastructure.”

via Energy firms flock to Government’s £40bn guarantee scheme – Telegraph.

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