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Greenvolt agrees to buy British biomass plant for $287m - Energy

Greenvolt agrees to buy British biomass plant for $287m – Energy

Greenvolt, a subsidiary of Altri Renewable Energy, on Monday, 7 June, along with funds managed by Equitix Group, celebrated an agreement to acquire Tilbury Green Power Holdings Limited (TGPH), the owner of the power plant. renewable energy from biomass, According to the statement Detected with CMVM.

According to the document, the value of the deal is 246.5 million pounds (equivalent to about 287 million euros).

This 42 MW (43.6 MW) plant is fully operational and is located in Tilbury Port in Essex, England.

On May 19, the company led by João Manso Neto (pictured) announced that it was preparing another step in its internationalization, by entering into exclusive negotiations to buy this plant in England. which is now closed by this Agreement.

“The ownership of the shares representing TGPH will be held by a company incorporated under English law, 51% by Greenvolt and 49% by funds managed by Equitix,” the statement read.

He stressed that the implementation of the agreement “is subject to verification of a set of previous usual conditions in operations of this type.”

The Tilbury power plant is located approximately 40 kilometers from central London, “therefore, it is strategically located to process wood waste from this ocean”.

The statement notes that “the plant operates using a conventional grid boiler, manufactured by a world-class supplier. The operation of the Tilbury Power Plant contributes effectively to the pursuit of UK climate goals, in full accordance with circular economy principles.” .

The center’s activity is based on long-term contracts covering ‘core’ operational areas, as well as a steady and high capacity to generate ‘cash flow’, within a reward framework backed by RPI-indexed ROCs until 2037, after a lifespan of up to 2054 inches.

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The document also says that 100% of the fuel supply needs needed for the plant to be fully operational are fully covered by a 16-year supply contract.

The statement concluded by saying: “This agreement will allow Greenvolt, in cooperation with Equitix, to pursue its ambitious project of growth and internationalization, consolidate its position in the renewable energy sector at a European level and contribute to the expansion of its business.”