Stobart Biomass has signed a deal with Greensphere Capital to supply up to one million tonnes of biomass fuel a year to existing and future biomass power plants.
Greensphere, which manages capital on behalf of institutional investors including the Green Investment Bank, will be investing in a national platform of waste biomass power plants, to which this framework agreement will provide fuel.
In addition to the income generated by Stobart Biomass for the supply of the fuel the group will generate revenues from transporting the product and from supporting each new project through to commissioning.
Stobart chief Andrew Tinkler said: “We believe Greensphere is the ideal partner for Stobart Biomass in this rapidly expanding market and while we continue to work with a number of other plant developers this agreement promises to underpin a sizeable element of our biomass supply strategy.”
