Case study

Development and acquisition of £900 million MGT Teesside biomass power station

Developing the world’s largest new build dedicated biomass power station

Opportunity

To boost local economic activity and lower carbon emissions, MGT Power set out to construct the world’s largest new-build biomass plant in Teesside, UK.

Actions

Together, Macquarie’s businesses partnered with MGT to commercialise, structure and finance the development, funding 50 per cent of the equity and raising the remaining funds needed to source this sustainable fuel supply.

Outcomes

  • Will boost the economy of North-East England by £20 million each year for consumers and businesses
  • Power for 600,000 homes
  • £650 million+ of senior debt raised
  • 600 jobs during construction
  • 100 jobs during operation
  • 2.3TWh of low carbon electricity each year

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