Foresight Group and JLEN Environmental Assets Group have each acquired a 45 percent stake in Energie Tecnologie Ambiente (ETA), a 16.8-megawatt energy-from-waste power plant located in southern Italy.
Marcegaglia Investments sold the 90 percent stake and will remain a 10 percent shareholder in the company, following the transaction.
ETA processes 137,500 tons of waste per year, producing Refuse Derived Fuel (RDF) from household waste each year, diverting this from landfill. It also produces 126,000 megawatt hours of electricity per year, enough to power 35,500 homes.
The acquisition marks Foresight’s first energy-from-waste investment for its FEIP portfolio and is also JLEN’s first investment in Italy.
“This investment underlines our appetite for a diverse range of energy infrastructure projects that contribute to the transition to a low carbon economy across Europe,” said Richard Thompson, partner at Foresight and co-manager of FEIP.
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