As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday, 19 April 2013

Sembcorp to Develop its First Overseas Energy-from-Waste Facility in the UK

- Project marks an important milestone in the Group's plan to grow its renewable energy capabilities

- Waste supply secured under a 30-yr contract


SINGAPORE, April 19, 2013 - Sembcorp Industries (Sembcorp) is pleased to announce that it will be developing a new energy-from-waste facility in Teesside, the UK, which will be the Group’s first energy-from-waste facility outside Singapore. The new energy-from-waste facility will be capable of producing up to 49 megawatts of gross power or 190 tonnes per hour of steam, using municipal and commercial waste. The facility will be located at Wilton International, a 770-hectare industrial site which Sembcorp owns, operates and manages in Teesside.

The new facility will be developed by a 40:40:20 joint venture between Sembcorp, SITA UK (part of SUEZ ENVIRONNEMENT) and ITOCHU Corporation.

The facility will utilise up to 450,000 tonnes per year of municipal waste, which would otherwise have gone to landfill, to produce sustainable power and steam. Through this facility, Sembcorp will be able to divert waste from landfill, convert waste into a fuel to produce energy, reduce the consumption of fossil fuels and lower carbon emissions. The energy-from-waste facility will reduce carbon emissions by an estimated 130,000 tonnes per year, compared to landfilling an equivalent amount of waste.

The waste will be supplied by the Merseyside and Halton Waste Partnership under a 30-year contract, which the joint venture won through a competitive bidding process.

To be located at Sembcorp’s Wilton International site, the facility will provide a new income stream and enhance the competitiveness of our UK operations when it becomes operational. Apart from the energy-from-waste facility, the joint venture will also be developing a waste transfer station in Knowsley, Merseyside, to transport the waste by rail from Merseyside to the energy-from-waste plant in Teesside. Both facilities are expected to be operational in 2016, and will be developed under a build, own, operate and transfer arrangement with the Merseyside Recycling and Waste Authority for a period of 30 years.

Tang Kin Fei, Group President & CEO of Sembcorp Industries, said, “We are very pleased to embark on this project and to develop a new energy-from-waste facility at our Wilton International site, a quality industrial site that offers integrated services, from land, utilities to infrastructure, to customers there. This new energy-from-waste facility will complement our existing assets at the site to generate power and steam competitively, enhancing the competitiveness of our UK operations. It is also a significant milestone as we continue to grow our renewable energy capabilities. We look forward to working closely with our partners and the local authorities on this exciting new project.”

Besides energy-from-waste capabilities, Sembcorp also has biomass and wind power as part of its renewable energy portfolio. Sembcorp now has a renewable energy capacity of over 330 megawatts of power and 250 tonnes per hour of steam in operation and under development around the world, accounting for approximately 5% of its total power and steam portfolio.

Financial Information

The total investment for both the energy-from-waste facility and waste transfer station amounts to approximately £250 million (approximately S$473.5 million), which will be funded through a long-term non-recourse project finance loan, an equity bridge loan, shareholder loans and equity. Financial close of the project is expected in the second half of 2013 or early 2014.

Sembcorp’s equity investment for this project, comprising equity and shareholder loans, is £21.9 million (approximately S$41.5 million), which will be funded through the Group’s internal resources. The investment and waste contract are not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the current financial year.
- END -

No comments:

Post a comment

Related Posts with Thumbnails