Cory wins Tower Hamlets contract

New deal will allow firm to process enough waste to power 19,000 homes

Nicholas Pollard Nicholas Pollard

The London borough of Tower Hamlets has awarded energy-from-waste specialists Cory Riverside Energy a 10-year contract.

The contract will from now until March 2027, with an extension option to 2035.

Under the terms of the agreement, Cory will process up to 110,000 tonnes of waste from the borough a year.

Residual waste will be compacted at the Northumberland Wharf transfer station and then transported by barge to Cory’s Riverside energy-from-waste plant at Belvedere in East London.

“The waste processed from this one contract alone with enable us to generate enough electricity to power 19,000 homes and recover 30,000 tonnes of aggregates each year from the waste for use by the construction industry,” said Cory chief executive, Nicholas Pollard.

“We look forward to building a strong, long-lasting business relationship with Tower Hamlets and working together ensure that the borough’s waste is treated responsibly and sustainably.”

Earlier this year, Cory Riverside Energy completed a £520 million debt-refinancing package for its Riverside energy-from-waste plant in East London.

Author: Jamie Hailstone,
Channel: Finance & investment
Tags: UK

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