Intrinergy closes financing

Virginia-based Intrinergy LLC and joint venture partner Shanks Group PLC, a European waste management company, closed $47 million in debt financing from Norddeutsche Landesbank-Girozentrale, a German renewable energy bank, to begin construction of a biomass energy project in Belgium. The joint venture, Intrinergy Vare Holdings, has permits in place and expected to begin construction in January. The project will use sawdust and forest residue as feedstocks to provide process steam and electricity for a wood pellet manufacturing facility.