Copenhague Infrastructure Partners fund acquires biomass power plant
Copenhagen Infrastructure Partners (CIP) has acquired 100% of the British biomass-fired power plant project "Brite" on behalf of the Copenhagen Infrastructure II fund.
CIP has paid for the asset a total consideration of DKK1.6 billion (US$226 million).
The Brite biomass-fired power plant has a capacity of 39.3 MW and will be fired with waste wood sourced locally in the UK. The power plant is expected to be in operation by the spring of 2017.
A consortium of Babcock & Wilcox Vølund from Denmark and UK-based Interserve will construct the power plant, with Babcock & Wilcox Vølund also managing the subsequent operation and maintenance phase. The biomass is sourced from a long-term contract with Stobart Biomass Group.
The Brite project is located in Rotherham near Sheffield in the UK and has been developed by Brite Partnership North East.
Christian T. Skakkebæk, Senior Partner at CIP, stated
"The Brite project is an attractive investment opportunity for CIP in a country with a well-established and stable regulatory regime. It fits very well with our strategy of developing projects benefitting from long-term contracts with strong industrial partners in order to deliver stable returns for our investors."
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