Friday, October 25, 2019

News: £160m Rotherham biomass plant sold


In one of the borough's largest investment transactions, the £160m Templeborough Biomass Power Plant in Rotherham has been acquired, just months after first generating electricity for the National Grid.

Greencoat Capital has signed an agreement to acquire 100% of Templeborough Biomass Power Plant Ltd from Copenhagen Infrastructure Partners (CIP).

Greencoat Capital is one of the UK's largest investors in the resource efficiency and renewable energy market, with more than £4 billion under management. The investment is being made on behalf of a number of Greencoat Capital's pension fund clients, and represents the company's first move into bioenergy assets.

Built on disused land at the Firth Rixson Ickles Works, the plant generates clean, green energy using waste wood, exporting just over 41MW of green electricity which is enough to supply 78,000 homes (around half the population of Rotherham) and save over 150,000 tons of CO2 every year.


Development and construction of the asset was financed by CIP through its CI-II fund, successfully stewarding the project from planning stages in 2015 to commercial operations in 2019.

Minal Patel, partner at Greencoat Capital, said: "We are proud to have made our first bioenergy investment, and delighted with the asset that CIP has developed. Greencoat has demonstrated sector leading performance with both its wind and solar strategies, and we look forward to replicating that in the bioenergy sector where we see a significant pipeline of investment opportunities."

Christina Sørensen, senior partner at CIP, added: "We are pleased to announce that we have reached an agreement with Greencoat to divest our 100% stake in TBPP. CI-II acquired the project in 2015, financed its construction, and successfully reached commercial operations in February 2019. Since then the plant has been steadily generating renewable power from locally sourced waste wood. We would like to congratulate the new owners on the successful acquisition of a great project."

Rothschild & Co and Mirae Asset Daewoo Co., Ltd. acted as financial advisers to CIP, while Evercore, Poyry and Eco2 advised Greencoat.

Templeborough Biomass website

Images: Templeborough Biomass


Supported by:
More news...

  © Blogger template Newspaper III by 2008

Back to TOP