Copenhagen Infrastructure Partners Buys British Biomass Plant

(Bloomberg) — Copenhagen Infrastructure Partners, a firm
founded in 2012 that invests in energy projects, acquired a
39.3-megawatt biomass plant under development in the U.K. for
1.6 billion kroner ($227 million).

The Brite project, which will use local waste wood as fuel,
is expected to begin generating power in 2017, according to an
e-mailed statement on Wednesday from the firm known as CIP.
Babcock & Wilcox Volund, based in Denmark, and U.K.-based
Interserve Plc will build the plant.

Stobart Biomass Group is providing fuel for the plant under
a long-term contract. Babcock & Wilcox Volund also will maintain
the facility, which is in Rotherham near Sheffield.

“The Brite project is an attractive investment opportunity
for CIP in a country with a well-established and stable
regulatory regime,” Christian Skakkebaek, a senior partner at
CIP, said in the statement. “It fits very well with our
strategy of developing projects benefiting from long-term
contracts with strong industrial partners in order to deliver
stable returns.”

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar, Steven Frank

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us