The North London Waste Authority (NLWA) has been conditionally awarded £258.4 million in Private Finance Initiative credits for potential diversion from landfill.
The project will divert 400,000 tonnes of biodegradable municipal waste from landfill per year by 2020, with the NLWA committed to a long-term recycling and composting rate of at least 50 per cent per cent to be achieved by 2020.
The UK has a target to reduce the volume of biodegradable municipal waste sent to landfill to 75 per cent of the 1995 levels by 2010, 50 per cent by 2013 and 35 per cent by 2020.
The project could see a reduction of approximately 100,000 tonnes of CO2 emissions each year compared with current operations, and is expected to create over 700 jobs during construction.
The NLWA arranges the disposal of waste collected in the seven London boroughs of Barnet, Camden, Enfield, Hackney, Haringey, Islington and Waltham Forest.
Environment Minister Dan Norris said: "Reducing our reliance on landfill is an essential part of the drive to tackle climate change."
"This funding demonstrates how local authorities and industry can work together to make better use of the waste that is produced, create jobs, and reduce our impact on the environment."
Further information:
North London Waste Authority
The Welsh Government has made £90 million in low interest loans available to Registered Social Landlords (RSLs) to deliver more homes for peo
Councils are to receive £500 million to restore family services.
The Welsh Government's Second Supplementary Budget has been approved by the Senedd.
Thousands of government credit cards are to be cancelled under plans to cut spending.
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