A joint venture between Copenhagen Infrastructure Partners’ fund Copenhagen Infrastructure II K/S (CI II) and Burmeister & Wain Scandinavian Contractor has divested the full ownership of U.K. biomass power plant Kent Renewable Energy Plant to Greenvolt – Energias Renováveis, a Portugal-based renewables company.
CIP said the transaction is expected to close by October; however, financial details were not disclosed.
CI II, BWSC and the original developer Estover took a final investment decision on the Kent Renewable Energy Plant in August 2016. The plant was constructed on budget and ahead of time and went into commercial operation in September 2018. The plant is qualified for the Renewables Obligation Certificate (ROC) regime and Renewable Heat Incentive (RHI) regimes, for power and heat respectively, as one of the last biomass projects in the United Kingdom, and performance has continuously improved since operations began.
The divestment of Kent Renewab
