PETERBOROUGH CITY Council is expected to release details of a new approach to nancing waste treatment facilities early next month.
The council is working with the Collaborative Working Centre (CWC), the consultation arm of Constructing Excellence, on business and nancing models for a new £56M energy from waste incinerator.
The council wants to construct the plant without relying on a Private Finance Initiative (PFI) deal. 'PFI works very well for street lighting projects where the project is capitalbased. But waste is revenue not capital- based, opening up the financing opportunities, ' explained head of environment and public protection Mike Brown.
Brown said that construction groups like May Gurney and banks such as RBS had shown interest in the idea. The scheme will involve building an anaerobic digestion facility that will produce methane as a bi-product, which could power a generator and an energy from waste incinerator.
The council hopes to gain planning permission for the facilities by the end of the year, once the nancing and business structure has been fully developed. If successful the council plans to have the anaerobic plant open by 2009 and the incinerator by 2011.