Octopus Renewables has acquired two operational biomass power plants with a combined capacity of 85.7 megawatts, in what marks one of the largest deals of its kind in the United Kingdom.
The seller was a joint venture composed of Copenhagen Infrastructure Partners (CIP) and Burmeister & Wain Scandinavian Contractor (BWSC), which handled the development, construction and operation of the two renewable power plants.
Octopus said the 40.8-megawatt Brigg facility and the 44.9-megawatt Snetterton facility are fueled by a mixture of locally-sourced biomass feedstocks. Octopus will manage both sites, in addition to the five biomass plants that it currently manages across the United Kingdom.
“The acquisition marks a significant step for our fund that has Nest as a cornerstone investor,” said Peter Dias, investment director at Octopus. “The fund benefits from a healthy pipeline that will help target strong and stable returns. We see institutions and pension fun
