News blog

Helius Energy

  • BY: Andrew Hore |
  • POSTED: 19/04/2011 |

Helius Energy has awarded contracts for a Scottish biomass CHP project in Scotland that could be up and running in the first half of 2013.

Helius develops and operates biomass-fuelled renewable energy generation plants. Last week, Helius reached financial close on the 60.5m Helius CoRDe project a 7.2MW biomass CHP project in Rothes, Scotland. Contracts worth more than 44m have been awarded.

Helius will own 50% of the project, Rabobank 44.7% and CoRD 5.3%.The Combination of Rothes Distilleries Limited (CoRD) has been processing the waste of distilleries in Rothes for more than a century.

Electricity generated by the plant will be sold to npower. Associated British Foods will supply Pot Ale Syrup to the project.

The plant will save 46,000 tonnes of CO2 a year.

Broker Ambrian estimates that the CoRDe project has an NPV of around 20m and will generate 6-8m in EBITDA each year.

At 18p a share, Helius is valued at 15.7m.

See www.quotedcleantech.com for more news on Aim-quoted cleantech companies.

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