Glennmont completes purchase of waste wood-to-power plant

Market: Biofuel
Posted January 29, 2015
Jan 31, 2015. /Lesprom Network/. Glennmont Partners has completed the purchase of the Margam Green Energy Project from ECO2 Ltd. and Western Logs Group on behalf of its dedicated clean energy fund, Glennmont Clean Energy Fund Europe II in a GBP 160 million ($240 million) deal, as the company said in the press release received by Lesprom Network.

The Margam Green Energy Project will see a new biomass power generation plant built in Port Talbot, Wales, providing 40 MW of renewable energy to the Welsh and UK Energy market.

The completion of the deal marks the inclusion of the first biomass generation in Glennmont Clean Energy Fund Europe II and a significant step towards the completion of the diversified European portfolio of clean energy investment. The Fund has already completed four deals in onshore wind and solar photovoltaics and with the addition of this innovative biomass transaction now has assets in France, UK and Portugal.

Fuel for the plant will be sourced from the waste wood market and will be supplied by Stobart Biomass Products Ltd under a long-term, indexed-linked fuel supply contract.

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