Welsh Power divests 50% in 47-MW biomass project to Santander

Welsh Power divests 50% in 47-MW biomass project to Santander

Nov 30, 2011 - Welsh Power Group Ltd, a subsidiary of Carron Energy Ltd, said today it had disposed of a 50% stake in its 47-MW Nevis biomass power project to a unit of Spanish Banco Santander SA (MCE:SAN).

The project's development and financing will be jointly completed by Welsh Power and the Spanish bank.

The biomass plant, located at Newport docks in South Wales, has full planning permission and construction can start once financial close is reached, Welsh Power said.

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Published Nov 30, 2011 17:23 CEST

Author Plamena Tisheva

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Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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