Gren acquires Stake in Scottish Energy-from-Waste Facility


Gren Energy Ltd has acquired a 50% interest in South Clyde Energy Centre, an Energy-from-Waste Facility (EfW) in Glasgow. The facility, which is currently under construction, will generate electricity and heat from non-hazardous domestic and commercial waste left over from the recycling process.   

The acquisition is in line with Gren’s strategy to invest up to GBP 1 billion in low carbon infrastructure and local energy systems in the UK, as well as the business’s wider growth plans: Gren recently announced that it plans to invest more than EUR 200 million to build an energy-from-waste plant in Acone, Latvia, which is connected to the local district heating network, providing affordable and decarbonised heat. Gren entered the UK market in May 2023 when it acquired a portfolio of CHP, EfW and biomass assets.     

South Clyde Energy Centre was previously jointly owned by Nordic energy company Fortum and Macquarie Asset Management. Under the terms of the deal, Gren has acquired Macquarie’s holding in the facility and is working with Fortum to ensure it is operational by the end of 2026, producing enough electricity to power the equivalent of up to 70,000 homes. It will also be enabled for heat offtake so it has the potential to provide heat to local businesses or district heating systems. 

 Ilkka Niiranen, CEO of Gren, said: 

“Gren develops and delivers energy solutions to meet the daily needs of our customers and communities. We bring our extensive EfW and district heating track record in the Baltics, our expert team and significant private sector investment to this unique project.  It presents an exciting opportunity for Gren to invest in and further develop, with our partners, a key asset in the most populous city in Scotland and the third most populous in the UK.  

“Once operational, South Clyde Energy Centre will generate up to 45 MWe gross of electricity by processing up to 350,000 tonnes of residual waste each year, equivalent to the waste arising from around 380,000 households.” 

Mike Reynolds, CEO of Gren Energy Limited, said: 

 “Gren is growing its business in a way which is strongly aligned with Scotland’s ambition to be a prosperous low carbon economy, with secure, affordable and sustainable energy. 

 “The facility at South Clyde provides an excellent opportunity for heat sales into a district heating network and with nearly 500GWh of potential heat demand located within 2km we are very supportive of Glasgow council’s proposals to develop a district heating network in this area. 

We have been encouraged to invest in Scotland by policy drivers supporting the development of low carbon generation and heat networks and we believe South Clyde Energy Centre will play a critical role in delivering the Scottish Government’s landfill ban, when it comes into effect in 2025.” 

 Once operational, the South Clyde Energy Centre will create around 40 permanent on-site jobs, in addition to supply chain opportunities for local businesses. The project will also support approximately 500 construction jobs over the lifetime of the build.  

Further information: 
Sarah Richardson  

[email protected]
+44 (0)7967 723291