New green energy company Community Renewable Energy Centre, which is proposing to build a new £20 million combined heat and power plant in Sheffield, has been advised by Birmingham firm BTG Corporate Finance.
The new Community Renewable Energy Centre is being developed by the new business Mediena and its trading arm UYE (UK), which have been advised by the BTG Corporate Finance Team in Birmingham. Additional biomass fired CHP projects are also being considered.
BTG Corporate Finance has helped to raise a six-figure development capital fund to secure the necessary planning and environmental consents.
Steve McMullan, a Birmingham-based BTG Corporate Finance director, said the funds had been secured through a consortium of private individuals.
Mr McMullan said: “A planning application has now been submitted to the council. If all goes well then building work would start in the last quarter of this year with a completion date before the end of 2013.
“Sheffield has always been very supportive of green energy and would like to become one of the first self-sufficient cities in the UK. This project is aligned with that strategy. The management team are also looking at other CHP projects in Sheffield and the surrounding areas, of a similar size and investment level.”