Newspaper article Evening Gazette (Middlesbrough, England)

Air Products Powers Government Deal

Newspaper article Evening Gazette (Middlesbrough, England)

Air Products Powers Government Deal

Article excerpt

IT was a UK first for Teesside - and now Air Products is helping to pioneer a Government power deal for a second facility.

The US company behind the PS300m advanced gasification plant at Haverton Hill has struck a pilot deal with Government that will save PS84m in energy costs.

Signed yesterday, the 20-year contract means the Government will buy a portion of its energy at a fixed low price, via an innovative Power Purchase Agreement.

It's an alternative to buying entirely through short-term wholesale markets, which are subject to unpredictable price fluctuations. The deal shores up plans for a second waste-to-energy plant by Air Products, which were first announced last year - fuelling hopes for hundreds more jobs on Teesside.

As part of the agreement, Air Products expects to invest a similar amount to that of their first plant in the second facility, which will be built on land next-door subject to planning approval.

A final investment decision is expected later this year. …

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