July 24, 2024

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Greenwald agrees to buy UK biomass plant for £231m

Greenwald agrees to buy UK biomass plant for £231m

The Greenwald Company – through Hamlet Pitco Limited, which it indirectly owns – has entered into an agreement to acquire 100% of Kent Renewable Energy Limited (KREL). Report The Securities Market Commission (CMVM) issued a statement on Tuesday morning.

In Sandwich, southeast of England, KREL has a renewable energy production plant from biomass to produce heat and electricity, Greenwald says, “The plant is fully operational and has a production capacity of 28.1 MW of electricity and 25 MW of heat.”

The transaction is valued at 195.3 million pounds (230.85 million euros) and is “expected to be completed by October of this year, subject to customary conditions and approvals,” the Jono Manzo Neto-led company points out (pictured).

“The plant benefits from renewable energy incentives for biomass in the United Kingdom – the Renewable Obligations Scheme (ROC) until 2037 and the Renewable Heat Incentive (RHI) until 2039,” the report said.

All fuel supply requirements – mainly sustainable forest biomass – necessary for the operation of the plant are covered by long-term supply, and the plant is operated by Burmeister and Wain Scandinavian Contractor A/S under a long-term contract. Highlights.

“This project consolidates Greenwald’s position as a benchmark in the domestically sourced biomass market in the UK,” concludes Greenwald, which is controlled by North American fund Kohlberg Kravis Roberts (KKR).

KKR, which already owns 78.9% or will launch earlier: announced that it will delist Greenvolt when it acquires 90% or more of Greenvolt Renewable Energy’s stake – through a mandatory OPA. Capital received by Mediobanca as a result of the conversion of 200 million euro bonds into shares or within the scope of the swap agreement signed with the North American Fund.

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