800m to be pumped into Peterborough green project
Pioneering eco-friendly regeneration schemes are set to pump more than £800 million into the Peterborough economy and create thousands of jobs.
One headline project will see construction of a £250m energy park creating more than 400 jobs.
The 25-acre park on land behind Peterborough Power Station is designed to turn waste into reuseable products or energy, leaving nothing in landfill.
It will create 300 jobs during its two year construction and a further 105 when it starts operation, which could be as soon as 2010.
Chris Williams, managing director of Peterborough Renewable Energy Ltd, which will build and run the park, said: “This energy park really is the answer to Peterborough’s problems – both environmentally and it terms of power production. “It adds to the green credentials of the city while reducing pollution and landfill, boosting recycling and creating electricity.”
Using market leading technology, the plant will turn household, commercial, industrial and construction waste into reuseable materials including glass, aggregates, acids and metals as well as creating enough electricity to power 60,000 homes a year.
While the combustion technology is already used in the UK, it will be the first time the PEM plasma unit is used in the country although it is currently in use in Japan, the US and Taiwan. Peterborough Renewable Energy has a similar plant under consideration in Italy.
The energy park, off Storey’s Bar Road, will consist of a Research & Development centre and two three-storey main buildings each housing a waste receiving hall, combustion chamber and plasma treatment chamber.
It will take up to 650,000 tonnes of waste per year from the county and an area in a 20-mile radius of Peterborough including Cambridge, Wisbech and Stamford.
The city is also benefiting from new retail and housing proposals for North Westgate and the planned construction of 450 eco-friendly homes on the South Bank.
There are also plans to create a hub of cutting edge environmental businesses near the city’s railway station, which would create 2,400 jobs when the two-phase scheme – the Green Quarter – is completed.
The aim of the Green Quarter is to create a centre of excellence of environmental businesses. Phase one involves construction of 125,000 sq ft that will offer up to 1,200 jobs with a similar payback from the second phase. The venture is backed by the Danish-owned ING bank, which is to invest £64m in the scheme.