Oct. 3 (Bloomberg) -- Estover Energy Ltd. plans to invest 220 million pounds ($354 million) to build three plants in Scotland and England that generate heat and power from wood.
The U.K. renewable-power developer applied for planning permission for the 52 megawatts of facilities, Max Aitken, a director at Edinburgh-based Estover, said today by e-mail. It plans to build two of the plants in Scotland and the other in Northumberland, with construction starting in 2013 if approved.
Estover aims to raise debt to fund the projects, which will use wood grown nearby to generate heat and power, Aitken said. The company also plans a further three facilities, he said.
The U.K. expects 15 percent of its energy to come from renewable sources by 2020 compared with 9.4 percent now. The government estimates as much 30 percent of that may come from biomass plants that use municipal waste, wood and straw.
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