Wales

Welsh Water secures £250m loan investment cash

L-R: Alastair Lyons, Chairman, Peter Bridgewater, Finance and Commercial Director and Jonathan Taylor, Vice President EIB. Image copyright Welsh Water
Image caption Welsh Water chairman Alastair Lyons (l) spent Thursday at Five Fords - along with finance director Peter Bridgewater and European Investment Bank vice president Jonathan Taylor

Welsh Water has secured £250m loan that will help it produce its own green energy and cut its £44m annual utility bill.

It has agreed the figure with the European Investment Bank to cover some of its investment costs.

Bosses are meeting in Wrexham on Thursday at a waste water works it is turning into an energy park.

It is investing £36m to harness solar and hydro power at Five Fords, Marchwiel.

The company said it was also developing an advanced anaerobic digestion plant on the site, which will use waste to generate enough energy to supply about 3,000 homes.

Welsh Water, which serves Wales and Herefordshire, generates 20% of its own energy needs through wind, hydro, solar and anaerobic digestion technology.

It said the majority of its power was spent on pumping water and waste water through thousands of miles of pipes.

The new loan will help it meet its pledge to deliver £1.7bn of investments in its not-for-profit businesses between 2015-2020.

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