Planned to be built adjacent to Bombardier’s wing facility in the city’s Harbour Estate, the £107m EfW facility is designed to use feedstock derived from household and commercial waste to generate clean electricity.
The investment has been made as part of a joint venture, Full Circle Generation, with developer RiverRidge Energy, Equitix and P3P Partners.
GIB CEO Shaun Kingsbury said: "Northern Ireland was the location of one of GIB’s earliest investments and it gives us great pleasure to announce another important commitment to the country’s green infrastructure network.
"The plant will generate cleaner, greener electricity that can be used to the benefit of local employers while helping local authorities and businesses meet waste reduction targets."
Electricity generated from the facility will be used to power aerospace major Bombardier’s wing facility in the city’s Harbour Estate.
Bouygues Energies and Services secured the design-build-operate contract earlier for the EfW project, which is planned to be commissioned by late 2017.
The plant is expected to generate about 61GWh of renewable electricity required to power more than 14,500 homes annually.
RiverRidge Energy managing director Brett Ross said: "The delivery of this critical piece of infrastructure provides a number of stakeholders with a world-class facility capable of recovering energy from waste in an environmentally sensitive and acceptable manner as well as the provision of a meaningful base load of renewable energy for Bombardier."
The project is expected to create 250 construction jobs, in addition to 20 permanent positions in operations.
