23rd Mar 2021 09:19
(Alliance News) - JLEN Environmental Assets Group Ltd on Tuesday announced it has acquired Rainworth Energy Ltd for GBP5.8 million from an unnamed consortium of sellers.
Rainworth Energy holds the rights and operational assets that make up the Rainworth anaerobic digestion plant, which is a 2.2 megawatts electrical plant based in Nottinghamshire, England.
The Guernsey-based investment company focused on environmental infrastructure projects said the Rainworth plant, which has been operational since 2016, supplies heat and power to Center Parc's Sherwood Forest resort.
JLEN said the purchase increases its total capacity of renewable energy assets in its UK agricultural anaerobic digestion portfolio to 310.7 megawatts. It funded the acquisition from a drawdown from its revolving credit facility.
"We are pleased with JLEN's latest investment into the AD sector, bringing the total number of agricultural AD plants in the portfolio to nine. We look forward to supplying Center Parcs with a combination of renewable heat and electricity and providing organic fertiliser to the local farming community," said Chair Richard Morse.
Shares in JLEN Environmental Assets were marginally lower at 110.45 pence in London on Tuesday morning.
By Zoe Wickens; [email protected]
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