The Sleaford Renewable Energy Plant is located by Kirkby la Thorpe near Sleaford in Lincolnshire. The Sleaford Renewable Energy Plant has an installed capacity of 38MW and generates enough power for 65,000 homes using sustainable fuel sources, saving 240 000 tonnes of CO2 per annum thus helping the UK achieve its renewable energy targets whilst bolstering the nation’s energy security. The Plant entered commercial operation in September 2014.
Eco2 Ltd self-funded the development of the project. It was sold before construction commenced. In 2011 Eco2’s Sleaford Renewable Energy Project was financed by equity from BNP Paribas Clean Energy Fund. Eco2 and BNP secured project finance from a club of four banks (RBS, NIBC, Siemens and Unicredit).
The development team at Eco2 managed the project from start through to sale, negotiating the property agreements, securing the planning consent and grid connection. The project obtained planning permission in 2008. Following the sale, Eco2 will manage its construction and subsequent operation and has already commenced some of the initial off site works. Eco2 are engaged in a Management Services Agreement and manage the logistics of the fuel supply for the plant on behalf of the owners.
The plant is a £165million pound investment – generating an additional £9million annually for the local economy. It created up to 300 jobs during construction and now supports more than 50 local jobs including 30 on-site operatives and an additional 20 through fuel source logistics.
As well as generating electricity, the surplus heat generated by the Plant is harnessed and used for heating Sleaford’s public swimming pool, Sleaford Bowling Centre, Sleaford Town Football, William Alvey Primary School, and North Kesteven District Council’s office in the town. This heat is provided by the Plant free of charge for twenty-five years – saving £2million in energy costs as a collective over that period.
Glennmont Partners is committed to supporting the local area and being a good neighbour. As well as agreeing sustainable long-term contracts with local farms to supply the straw to the plant, Glennmont is providing direct funding to community-based projects, to enhance the economic and environmental sustainability of the area through the Sleaford REP Community Liaison Panel.
The community fund of £285,000 will be distributed within the local community. The various funding streams are intended to enhance the economic and environmental sustainability of the area. The grants are sectioned as follows:
- The Community Fund (£40,000 per year for a three-year period),
- Apprenticeships (£5,000)
- The Sustainability Fund (£20,000)
- Public Art Fund (£50,000)
- Urban Walks Fund (£10,000)
- Kirkby–la–Thorpe School Fund (£10,000)
- Splash Pool (£125,000)