Power plant to be fuelled by sludge gas

Press, 23 February 1977, Page 11

Power plant to be fuelled by sludge gas

Part of the $600,000 loan being raised by the Christchurch Drainage Board will pay for a power generating plant which will be fuelled by sludge gas and which will provide enough energy to meet 75 per cent of the total power demand at the board’s Bromley sewage treatment plant. This loan, which will remain open until March 31, is the first issue of the Sewerage (Treatment Works) Loan 1976 of $2.9 million. The board needs $3.9 million to complete extensions and modifications at Bromley and the balance, less a Government subsidy, has yet to be sanctioned by the Local Authorities’ Loans Board. For this issue, the board

is offering five, six, 10 and 20-year terms, the interest rates being 9.25 per cent for the shortest term and 9.5 per cent for the longer ones.

The issue is an authorised trustee investment under the Trustee Act 1956 and the principal and interest of the loan are secured by an annually recurring special rate on the rateable capital value of a special area of more than $2 million. The board is issuing stock in sums of not less than $2OO and in multiples of $2O. Since May, 1974, the board has raised $4.2 million to finance the Bromley modifications and extensions, this issue is the first of the new loan which will finance completion of the work.