Following the announcement released on May 19, 2021, ALTRI SGPS S.A. hereby informs that its wholly-owned subsidiary GREENVOLT – ENERGIAS RENOVÁVEIS S.A. on June 7, has reached an agreement, together with funds managed by the Equitix Group for the acquisition of Tilbury Green Power Holdings Limited — the owner of a fully operational renewable energy biomass power plant, with net design capacity of 43.6 MW, located in the port of Tilbury, Essex, England. Ownership will be split in a proportion of 51 percent to GREENVOLT and 49 percent to the funds managed by EQUITIX.
The transaction amounts to an enterprise value of £ 246.5 million. The transaction is subject to conditions precedent customary in transactions of this nature being met.
Tilbury Power Plant is situated approximately 25 miles from central London, and it is therefore strategically located to process waste wood for the area, with few alternatives in the vicinity. Its design is based on conventional grate and boiler technology from reputable suppliers and plays a key role in meeting the UK’s climate objectives by providing renewable baseload capacity (energy recovery from waste wood is a key element of the waste hierarchy and the circular economy framework).
Tilbury Power Plant is built to a robust specification based on proven modern technology and is considered one of highest specification plants in the United Kingdom in relation to fire and deflagration protection systems. The plant benefits from (i) long-term contracts covering all key operational areas and a (ii) stable and highly visible cash flow generation, with a remuneration framework underpinned by RPI-indexed ROCs through to 2037 and useful life until 2054. Supply is fully covered by a 16-year fuel supply agreement covering 100 percent of the plant’s requirements.
The plant has been designed with net generating capacity of 43.6 MW.
http://biomassmagazine.com/articles/18075/greenvolt-announces-acquisition-of-uk-biomass-power-plant