Greencoat Capital announced that funds managed by the firm have acquired the Margam Green Energy Plant (MGEP) from Glennmont Partners. This is a 41.8 megawatt (MW) waste wood-fired biomass plant located in the United Kingdom.
In 2015, MGEP was originally acquired by Glennmont, during the construction phase. However, its operation was commissioned in 2019. The facility, located in Port Talbot, South Wales, can process up to 290,000 metric tons of wood waste per year. It is also capable of offsetting approximately 150,000 metric tons of carbon dioxide each year.
MGEP burns low-grade waste wood, which is supplied under a long-term, fixed-price supply agreement with Esken. According to Glennmont, the facility benefits from crediting 1.4 renewable obligation certificates (ROCs) per megawatt-hour and has 15 years of ROC life remaining.
The acquisition is Greencoat’s third investment in large-scale bioenergy plants. In fact, the company also acquired Copenhagen Infrastructure Partners’ Templeborough biomass power plant in 2019 and Glennmont’s Sleaford renewable energy plant in 2020.
“We are delighted to complete the sale of Margam to Greencoat, which represents a long-term investment in Wales’ renewable energy infrastructure,” said Joost Bergsma, CEO and co-founder of Glennmont. “We are delighted to be working with Greencoat again following their purchase of the Sleaford plant in 2020.”
Source: Biomass Magazine