Brian Donnelly, The Herald
Summary
Work on a new $210 million Energy from Waste plant that will prevent the equivalent of a fifth of Scotland's total annual landfilled from going underground each year is under way after financial close was announced by its partners.
The project in Grangemouth was launched by Edinburgh-based Brockwell Energy, which funded and led the development over the past three years, and the Green Investment Group (GIG), also rooted in the Scottish capital, and is described as having "unparalleled environmental credentials".
Earls Gate Energy Centre (EGEC) is the first investment in Scotland for GIG (formerly the Green Investment Bank) since it was privatised by Macquarie last year.
Brockwell will retain 50 per cent of EGEC while GIG together with its co-investor Covanta Energy will acquire the other 50% of EGEC though a jointly owned vehicle.
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