Ence buys two Spanish biomass plants from Endesa

Spanish pulp mills operator Ence – Energia y Celulosa SA (BME:ENC) has agreed to buy the stakes held by Endesa SA (BME:ELE) in two biomass power plants totalling 32 MW.

The transaction concerns the 68.4% and 64.1% stakes in the Enemasa and La Loma plants in Ciudad Real and Jaen, respectively. The two facilities, which use olive stones, started commercial operations in 2003.

Through this deal, Ence will increase its installed power capacity, currently at 143 MW, by 29%. The company plans to hit 383 MW of installed biomass capacity by 2020.

The vice president and CEO of Ence, Ignacio Colmenares, said that the firm expects to achieve rapid synergies in all its power plants after the operation materialised.

Ence did not disclose the value of the deal.

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