July 19 (Renewables Now) - John Laing Environmental Assets Group Ltd (LON:JLEN) said Friday it acquired Yorkshire Hydropower Holdings Ltd (YHHL), the indirect rights holder to two operational hydro-power plants (HPPs) and a battery storage system in the UK.
The total consideration, including working capital, was GBP 4.3 million (USD 5.4m/EUR 4.8m), which the environmental infrastructure fund paid from own cash resources.
The acquired assets are based in Yorkshire county. The 500-kW Kirkthorpe single turbine HPP, commissioned in 2016, is located on the River Calder, while the Thrybergh twin screw 260-kW hydro-power scheme is located on the river Don and has been producing power since 2015. Both HPPs are receicving feed-in tariffs (FiT) under a 20-year contracts.
The deal also includes a 1.2-MW battery storage unit located at the Thrybergh site. The system, commissioned in January 2018, has a Firm Frequency Response (FFR) contract in place.
The acquisition marks JLEN’s first investment in the run-of-river hydro and battery storage segments. So far, the company’s portfolio of projects included wind, solar, anaerobic digestion, waste and wastewater schemes. The new assets boost the fund’s renewable energy capacity to 281.16 MW.
(GBP 1.0 = USD 1.25/EUR 1.11)