Viridor reaches financial close on £2bn Tees Valley energy-from-waste plant. Viridor and Tees Valley Energy Recovery Limited have reached financial close on a £2bn, 29-year contract to build and operate a 450,000-tonne-a-year energy recovery facility at Teesworks in Redcar. The plant, backed by seven north-east councils, is due to begin operating in 2030.

The partner authorities are Darlington, Durham, Hartlepool, Middlesbrough, Newcastle, Redcar and Cleveland, and Stockton, contracting through a special purpose vehicle. Viridor says the facility will produce up to 49.9 MW of baseload electricity, with Kanadevia Inova appointed as engineering, procurement and construction contractor. Construction is due to begin later this year, with around 50 permanent roles once operational and several hundred jobs during construction. TVERF will be the 13th plant in Viridor's energy from waste fleet.

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