South Yorkshire renewable energy plant acquired in £15m deal
JLEN, the listed environmental infrastructure fund, has completed the acquisition of Vulcan Renewables Ltd in a deal worth £15.3m.
The acquisition, in partnership with operator Future Biogas Ltd, is the company’s first investment in the anaerobic digestion sector.
JLEN’s portfolio of environmental infrastructure projects now include wind, solar, waste and wastewater.
Vulcan Renewables has been acquired from Venture Capital Trusts managed by Downing LLP having provided the original funding into the business in 2012.
Vulcan Renewables’ plant, located in Hatfield Woodhouse near Doncaster, was commissioned in October 2013, and was one of the first commercial biogas-to-grid projects in the UK.
It has a capacity of 5MWth and predominantly produces biomethane.
This acquisition brings the total capacity of the renewable energy assets in the JLEN portfolio to 230.2 MW.
Richard Morse, chairman of JLEN, said: “We are pleased to make our first investment in the anaerobic digestion sector through Vulcan Renewables, a project with a proven operational history.
“With its RPI-linked RHI and FiT revenue streams, the project adds to the diversification of the JLEN portfolio.”
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