Northern Ireland has secured £47million of funding from the UK Green Investment Bank (GIB) for an energy from waste facility.
It will be the largest project of its kind to be financed in the country and will have the capacity to generate enough power for 14,500 homes.
Around 250 construction jobs will also be created in around 20 operations.
The facility will be located in Belfast in the city’s Harbour Estate.
GIB has made an investment in the 14.85 MW plant as part of a joint venture called Full Circle Generation.
The plant will be fuelled by feedstock derived from household and commercial waste.
Jonathan Bell, Minister of Enterprise, Trade and Investment, the Northern Ireland Assembly, said: “This multi-million pound project is hugely significant, not just for Belfast, but for the
Northern Ireland economy as a whole as it will create hundreds of jobs and protect many more.
“As well as creating 250 construction jobs and 20 full-time posts once the facility is operational, it will also provide a competitive energy source for Bombardier, which is our largest manufacturing employer.”
The design-build-operate contract has been awarded to Bouygues Energies and Services, which expects the plant to be fully operational by late 2017.