Global law firm Norton Rose Fulbright has advised JG Pears on the development and financing of a biomass plant providing heat and energy to its own animal rendering business.
The 43MWth thermal energy plant will burn a combination of poultry litter and meat and bone meal. It will also export its excess electrical power to the National Grid.
The Norton Rose Fulbright team was led by Mark Berry and included Rob Marsh, Wasim Khan and Susan Dingwall (partners), Andrew Hedges (consultant), Tim Baines (of counsel), Jenny Waites, Katherine Lang and Bevan Peachey (senior associates) and Sonam Kathuria, Matt Hacking, Juliette Kelly and Martin Schneider (associates).
Mark Berry comments:
“This project represents an attractive investment in the renewables sector, particularly when compared to other biomass projects. It had in place a new insurance product designed to protect against the loss of incentive revenue in the event that the project did not complete commissioning within the incentive scheme specified deadline. We drafted and negotiated this policy together with Marsh and we see great potential for this new product, not just in the biomass sector but also where there are similar incentive revenue risks in other project sectors.”
Norton Rose Fulbright continues as a leading firm in the waste-to-energy sector. The team also recently advised Full Circle Generation Ltd on the development of a new £107m Energy from Waste (EfW) plant in Belfast and the Urbaser Balfour Beatty (UBB) consortium in relation to its contract with Gloucestershire County Council to build a waste-to-energy plant, which will process up to 190,000 tonnes of residual waste per annum.
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