MVV Energie, an energy company based in Mannheim, Germany, is expanding its portfolio of thermal waste treatment plants in the United Kingdom.

Construction is currently underway at MVV’s fourth UK plant site in Wisbech, Cambridgeshire, in eastern England, which follows Plymouth ( thermal waste treatment plant ), Ridham Dock ( biomass plant ), and Dundee ( thermal waste treatment plant ).

The Medworth Energy from Waste ( EfW ) Combined Heat and Power ( CHP ) Facility is the largest single project in MVV’s history, with an investment of around €500 million ( US$580 million ). Swiss green tech company Kanadevia Inova will carry out the plant construction.

MVV is funding the expansion with its internal resources plus external debt financing, which it structured with KfW IPEX-Bank as unsecured corporate financing. The debt financing is divided into the construction and operational phase with a total term of 19 years.

For the first time, MVV is incorporating export risk insurance into its financing with Swiss Export Risk Insurance ( SERV ).

"Together with KfW IPEX-Bank and SERV, we have succeeded in implementing large-scale and long-term corporate financing with an integrated interest rate and currency hedging structure that is tailored precisely to the investment," notes Marc Speicher, head of finance at MVV Energie. "By integrating a buyer credit insurance into financing for the first time, we have gained valuable experience and further expanded our portfolio of usable financial instruments."