JLEN adds 5MW plant to its AD portfolio
John Laing Environmental Assets Group (JLEN) has added to its anaerobic digestion portfolio with the acquisition of a new plant.
The listed environmental infrastructure fund has acquired Merlin Renewables, located in Hibaldstow, North Lincolnshire UK for £18.1 million. The facility has a thermal capacity of 5MWth and, according to a JLEN announcement, predominantly produces biomethane to be injected to the national grid.
Accredited under the UK’s Renewable Heat Incentive (RHI) and Feed-In-Tariff schemes, the plant also has a 0.5MWe CHP (combined heat and power) engine. The plant was commissioned in September 2014.
The plant has been acquired from Venture Capital Funds managed by Downing and minority shareholders. Future Biogas will continue to provide management, operations and maintenance services to the AD plant following the acquisition.
“This latest acquisition underlines the commitment JLEN has to diversifying its portfolio and the value it places in the anaerobic digestion sector,” said JLEN Chairman Richard Morse.
“We are pleased to see our partnership with Future Biogas continues to strengthen across a portfolio of four projects together.”
The acquisition builds on JLEN’s growing interest in the UK’s biogas sector, becoming its fourth AD facility. It brings the total capacity of the renewable energy assets in the JLEN investment portfolio to 274.2MW.