Glennmont Partners has completed the sale of Sleaford Renewable Energy Plant (Sleaford REP) to Greencoat Capital. The sale marks the last remaining asset of Glennmont’s €437 million Clean Energy Fund.
Sleaford REP is an operational 38 megawatt-equivalent renewable combined heat and power (CHP) plant, which uses a blend of straw and sustainable wood chips to generate heat and power. The plant benefits from accreditation for 2.0 Renewables Obligation Certificates (ROC) per MWh and has approximately 15 years of ROC life remaining.
The plant, located in the ‘Grain Belt’ in Lincolnshire, UK, provides a reliable route to market for straw, according to Glennmont, an agricultural by-product that can represent an additional income source for local farmers. Heat generated by the plant is provided to a local swimming pool and other community facilities. The plant has also recently signed a new community funding agreement with the local council.
Peter Dickson, partner at Glennmont Partners, said: “We are delighted to complete the sale of the Sleaford REP to Greencoat. This deal proves Glennmont’s ability to provide stable, predictable returns on investment in clean energy infrastructure.
“The full divestment from Fund 1 underlines our successful approach, working across different markets and technologies. Our team’s unique blend of expertise in operations and asset management will ensure that we continue to identify and secure further value from assets.
“Sleaford REP has been an important asset for us in showcasing environmental, social and governance standards, with multiple community value schemes. In many ways, we are sorry to see it go.”