April 2 (Renewables Now) - JLEN Environmental Assets Group Ltd (LON:JLEN) has invested GBP 11 million (USD 13.7m/EUR 12.5m) in the Peacehill Farm anaerobic digestion (AD) plant in Scotland, with around 5 MW of thermal and 0.25 MW of power generation capacity.
The investment comprises a debt facility and subscription for a minority equity stake in JLEAG AD Ltd, which, through a fully-owned unit, holds the rights and operational assets of the facility.
The Peacehill Farm plant, located in Wormit within the Fife council area, was commissioned in December 2015 and is accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes. It predominantly produces biomethane that is exported to the national gas grid.
"As with our other AD plants, it [Peacehill Farm] has a proven operational history and is supported by a high proportion of inflation-linked revenues backed by government subsidy regimes,” said Richard Morse, chairman of JLEN.
Following this latest investment, JLEN’s portfolio expands to 302.9 MW.
(GBP 1.0 = USD 1.245/EUR 1.138)