{"id":5688,"date":"2016-08-15T13:51:02","date_gmt":"2016-08-15T13:51:02","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=5688"},"modified":"2016-08-15T13:51:02","modified_gmt":"2016-08-15T13:51:02","slug":"spanish-and-korean-contractors-to-build-650m-teesport-biomass-plant-after-green-light","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/spanish-and-korean-contractors-to-build-650m-teesport-biomass-plant-after-green-light\/","title":{"rendered":"Spanish and Korean contractors to build \u00a3650m Teesport biomass plant after green light in UK"},"content":{"rendered":"
\n

A consortium of Spanish and Korean contractors will build a new \u00a3650m biomass plant in Teesside after the project secured financing.<\/p>\n

Construction News<\/a> reports, the joint venture between Spain-based\u00a0Tecnicas Reunidas<\/a>\u00a0and Korean firm Samsung Construction & Trading<\/a> will lead construction on the long-awaited Tees Renewable Energy Plant<\/a> at Teesport near Middlesborough.<\/p>\n

\"T\u00e9cnicas\u00a0\"SAMSUNG<\/p>\n

The 299-MWe project \u2013 one of the biggest biomass plants in the world \u2013 was proposed by developer MGT Power<\/a> in 2007 but failed to secure funding up until now.<\/p>\n

MGT Power announced in July 2015 that it was partnering with Macquarie Capital and Macquarie Commodities and Financial Markets to help raise funds.<\/p>\n

\"\"

MGT Teesside\u2019s CEO Ben Elsworth and the land where the plant will be built.<\/p><\/div>\n

Macquarie, together with Danish pension fund PKA, will become joint owners of the plant under the financing deal.<\/p>\n

Construction will begin in months, with the plant expected to be operational by 2020.<\/p>\n

Tecnicas Reunidas has constructed energy projects in Spain and across the world.<\/p>\n

In 2012 it was named as one of the EPC contractors for the delayed Trafford Power plant in Carrington.<\/p>\n

Samsung C&T has been involved in a number of infrastructure projects around the world, including the Burj Khalifa<\/a> and the Mersey Gateway Bridge<\/a>.<\/p>\n

Mace will support the construction of the project, alongside\u00a0consultants Poyry Energy and RPS.<\/p>\n

At least 600 jobs will be created during construction, as well as\u201cseveral hundred more\u201d in the supply chain.<\/p>\n

MGT Teesside chief executive\u00a0Ben Elsworth said: \u201cThe Tees REP project has had to overcome many hurdles in development but we have now successfully reached the next stage despite the difficult financing environment.<\/p>\n

\u201cSupport from the local region and a big team effort from Macquarie and all of the different parties involved in the project were instrumental in getting there.<\/p>\n

\u201cWe can\u2019t wait to get work started on site and make this project a huge success for the Teesside region.\u201d<\/p>\n

Macquarie Capital Europe and head of infrastructure, utilities and renewables Mark Dooley said: \u201cWe are delighted that our partnership with MGT Power will enable the delivery of this important project for the economy of North-east England.<\/p>\n

\u201dMacquarie is committed to supporting UK\u2019s move to green energy and we see Tees REP as a key component of this transition.\u201d<\/p>\n

BY JACK SIMPSON<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A consortium of Spanish and Korean contractors will build a new \u00a3650m biomass plant in Teesside after the project secured financing. Construction News reports, the joint venture between Spain-based\u00a0Tecnicas Reunidas\u00a0and Korean firm Samsung Construction & Trading will lead construction on the long-awaited Tees Renewable Energy Plant at Teesport near Middlesborough. \u00a0 The 299-MWe project \u2013 […]<\/p>\n","protected":false},"author":1,"featured_media":5689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,4,12],"tags":[],"yoast_head":"\nSpanish and Korean contractors to build \u00a3650m Teesport biomass plant after green light in UK - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/spanish-and-korean-contractors-to-build-650m-teesport-biomass-plant-after-green-light\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spanish and Korean contractors to build \u00a3650m Teesport biomass plant after green light in UK - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"A consortium of Spanish and Korean contractors will build a new \u00a3650m biomass plant in Teesside after the project secured financing. 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