Mersey energy saver

Renewable energy group,

(NEE), has teamed up with

, the

division of environmental investors,

, to create Mersey Green Solution.

Funded through individual investors, the venture is hoped to finance and develop projects that will recover energy from commercial, industrial and public waste.

The first project will be a Merseyside gasification-pyrolysis system which intends to generate approximately 40MW of energy from waste products.

Chris Cox, managing director of New Earth Energy, said: ‘We're looking to decouple the development of waste and renewable energy infrastructure from local authority procurement and bank lending.

'This will give us an exciting head-start in the market place so that we can have merchant facilities up and running to receive waste from the private and public sectors next year.

‘Our phased development will allow debt and financial gearing of the projects to be introduced later, once the facilities are established. At a time when the Private Finance Initiative is stalling in the waste sector, Mersey Green Solution provides excellent opportunities for the experienced investor.’