Macquarie Capital and Macquarie’s Commodities and Financial Markets group have agreed to support financing MGT Power’s £650 million Teesside Renewable Energy Plant. Macquarie is partnering with MGT to bring the project to financial close, and will be the lead equity sponsor for the project as well as financial adviser.

The biomass-fuelled 299MWe plant received a so-called “FID-enabling” Contract for Difference (CfD) from the Department of Energy and Climate Change (Decc). It will be fuelled by wood pellets and chips from the USA and Europe.