Greenvolt, Equitix buy 43.6-MW biomass plant in England

Biomass facility. Author: Frerk Meyer.

June 8 (Renewables Now) - Portuguese renewable energy company Greenvolt – Energias Renovaveis SA and funds managed by Equitix Groups have reached an agreement to jointly acquire a 43.6-MW biomass power plant in England.

According to a filing published on Monday by Portuguese pulp producer Altri SGPS SA (ELI:ALTR), Greenvolt's parent company, the transaction has an enterprise value of GBP 246.5 million (USD 349.6m/EUR 286.7m).

Specifically, Greenvolt and Equitix are taking full control of Tilbury Green Power Holdings Ltd (TPGH), the owner of the biomass plant located in the port of Tilbury, Essex.

Ownership will be split 51/49 between Greenvolt and the funds managed by Equitix.

The biomass plant benefits from long-term contracts that cover all key operational areas, and a stable cash flow generation. Its fuel requirements are fully covered by a 16-year agreement, Aldi noted.

(GBP 1.0 = USD 1.418/EUR 1.163)

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