Energy Gasification Scheme

Meeting: 
MQT on 2015-11-18
Session date: 
November 18, 2015
Reference: 
2015/3905
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Please provide an update on the status of the Bioessence waste to energy gasification scheme in East London that you have previously provided a loan of £8.9m through the London Waste & Recycling Board (LWaRB). 

Answer

Answer for Energy Gasification Scheme

Answer for Energy Gasification Scheme

Answered By: 
The Mayor

The Biossence project went into administration in March 2014. £3.56 million of LWARB's loan to the project had been drawn down. LWARB's loan was secured against the site.  The site was sold by the administrators on 31st July 2015. The administrator is now finalising tax and other administrative matters. LWARB will receive approximately £3 million (being the sale value of the land net of costs) once these matters have been concluded and the project company is wound up.