Investment Update: Binn Group Energy from Waste

Binn Eco Park EFW

Article Quick-Links

Investment Update: EPC contractor and operator appointed for Binn Group Energy from Waste facility in Scotland

Iona Capital and Binn Group have appointed the French-based company TIRU to build and operate their £70 million Energy from Waste (EfW) facility at Binn Eco Park near Perth, Scotland. 

Targeted to open in 2024, the 6.8MW (export) EfW plant will provide heat and power to existing occupiers of the industrial park, export power to the National Grid and will support the 2045 Net Zero target date set by the Scottish Government.

TIRU – part of the recycling and waste management specialists PAPREC Group – currently operate two EfW plants in the UK (at Grimsby and Exeter) and 18 further facilities across Europe, ranging in scale from 3MW to 200MW.

The Binn EfW project is TIRU’s first contract in Scotland. TIRU will also supply the technology for the facility which will handle up to 85,000 tonnes of waste each year.   The project will create more than 200 jobs during the construction phase and 30 long-term skilled posts once operational.

Binn Group, one of the country’s largest independent resource management operators, will act as primary feedstock suppliers for the plant which will be developed as part of the 200-acre Binn Eco Park site where a variety of low-carbon energy solutions are being developed including EfW, wind and solar power.

Julia Safiullina, Investment Manager at Iona Capital said: “TIRU’s experience in engineering and construction gives us confidence that the project will be delivered on time and on budget, whilst TIRU’s extensive experience in operating EfWs and developing heat utilisation provides a further assurance that the Binn EfW project will be a success.”

Allan MacGregor, Binn Group CEO, said the new EfW facility would provide necessary infrastructure for commercial operators needing to divert their residual waste from landfill. He said: “It also offers a local solution to nearby municipal authorities. We are excited at the role the facility will play in securing growth of Binn Group, whilst supporting inward investment and economic regeneration for the Perthshire economy.”

“PAPREC, TIRU and Iona Capital bring an experienced team with tried and tested technology and multi-site operational and financing experience to help Binn Group provide a cleaner solution for non-recyclable waste.”

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email

Article Quick-Links

What Next?

for Investors

Are you an institutional investor looking for a new sustainable investment opportunity? Let us make the case for Iona — just click the link below to learn more about what drives our success.

for Developers

Do you have a sustainable technology that pushes innovation and helps our environment? If so, discover if your company fits in with our investment portfolio. Who knows, we could be working together before you know it.

On Key

Related Posts

GLW Feeds

Iona Capital Invests In New CHP Plant

Iona Capital invests in First CHP plant with GLW Feeds Iona Capital (Iona), the low carbon infrastructure investor and fund manager has financed the construction

Shawton Energy Ltd

Deal Overview Shawton Energy Limited (SEL) is a solar pv installer with a significant pipeline of rooftop solar projects to supply businesses with renewable electricity.

Sign Up To Our Newsletter

Are you interested in learning more about Iona? 

Why not have our Q3 newsletter delivered straight to your inbox?