The Energy from Waste plant has been sold twice in its history, the House of Keys was told last week.

Treasury Minister Alfred Cannan told MHKs the facility was sold by the government’s then Department of Local Government and the Environment to Isle of Man Bank in September 2004 for £45.5m.

It was sold again in May last year by Isle of Man Bank to RBS International for £25,724,562 as part of the transfer of the bank’s Isle of Man business.

Jason Moorhouse (Arbory, Castletown and Malew) asked whether there was a clause allowing the government to take back ownership. Mr Cannan said he was not aware of one.

Planning permission for the Energy from Waste plant was secured in 2001 and it was commissioned in 2003.

United Waste, part of the SITA group, was awarded a 25-year contract to build and operate the plant.