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Glennmont’s 42-MW biomass plant bought by Greencoat

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Funds managed by Greencoat Capital have agreed to acquire a 41.8-MW biomass power plant in South Wales from Glennmont Partners.

The deal concerns the Margam Green Energy Plant (MGEP) in Port Talbot, which has been operating since May 2019 and has the capacity to process some 290,000 tonnes of waste wood per year.

MGEP sources low-quality waste wood under a long-term, fixed-price supply agreement with Esken.

According to Minal Patel, partner at Greencoat Capital, the newly-purchased facility is almost identical to its existing Templeborough plant.

The firm also owns the Sleaford Renewable Energy Plant, which it bought from Glennmont in 2020.