The incinerator being constructed at the former Westfield coal mine in Fife has a new owner.
Brockwell Energy has developed the energy from waste facility for several years.
Its construction, which will create 400 jobs, started in February.
Brockwell has developed the project through a subsidiary company Westfield Energy Recovery Limited.
It has now sold this company to infrastructure investor Equitix for an undisclosed sum.
Alex Lambie, chief executive of Brockwell Energy, said: “The sale reflects the high quality and value of the project.
“The proceeds will be reinvested to further expand our other energy development projects, all of which are contributing to achieving important climate change goals.”
What is the Westfield Energy Recovery Facility?
The Westfield Energy Recovery Facility will process around 240,000 tonnes of non-recyclable residual waste per year, diverting this from landfill.
This will generate more than 23 megawatts of electricity.
It is located at the former Westfield open-cast coal mine, east of Ballingry, which closed in 1994.
Construction is under way with leading Swiss-based EPC contractor Hitachi Zosen Inova.
The plant is due to be fully operational in early 2025.
It will create more than 400 jobs during its construction phase and 40 long-term skilled roles once in operation.
The coal mine site is being redeveloped for industrial and commercial use by Hargreaves Land Limited.
When Hargreaves purchased the land from the liquidators of Scottish Coal, it was in a derelict state with significant restoration challenges.
Brockwell’s job for Fife incinerator owner
Despite selling its interest in the project, Brockwell will work with Equitix under a long-term management services agreement.
This will see it manage the construction through commissioning into the operations stage of the plant.
It will also collaborate with Hargreaves Land Limited to identify and attract new tenants to the wider site.
One of the appeals of the site will be the availability of below-market rates for heat and power from the incinerator.
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