Bouygues Energies and Services UK has been lined-up to build and operate the plant on Gretton Brook Road Industrial Estate by developer Drenl.
Two hundred construction jobs will be created and the completed site will provide enough power for 18,000 homes.
It will recycle up to 120,000 tonnes of commercial and industrial waste each year from offices, factories, building sites and shops in the Corby and Northamptonshire area.