SSE Plc (SSE.L) Monday announced that it has entered into a 50:50 joint venture agreement with Wheelabrator Technologies Inc to develop a new multifuel generation facility at its Ferrybridge power station in West Yorkshire.
The joint venture between the two firms, named as Multifuel Energy Ltd - estimates that the new generation facility would cost approximately 300 million pounds.
The joint venture is expected to commence the full construction of a 68MW multifuel facility in late 2012 and complete the project by early 2015.
SSE Plc further added that the joint venture would facilitate the creation of hundreds of jobs during the three year construction period. The company further added that over 50 new full time jobs will be required once the plant is fully operational.
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