Greencoat Capital has made its first move into bioenergy assets with the acquisition of a 40MW plant in the UK.
The specialist asset manager said it has acquired Templeborough Biomass Power Plant (TBPP) from Copenhagen Infrastructure Partners (CIP) for an undisclosed sum.
The manager said the investment is being made on behalf of a number of its pension fund clients.
TBPP owns a waste wood biomass plant in Rotherham, which commenced operations at the beginning of the year.
Minal Patel, partner at Greencoat Capital, said: “We are proud to have made our first bioenergy investment, and delighted with the asset that CIP has developed.
“Greencoat has demonstrated sector-leading performance with both its wind and solar strategies, and we look forward to replicating that in the bioenergy sector where we see a significant pipeline of investment opportunities.”
Christina Sørensen, senior partner at CIP, said: “We are pleased to announce that we have reached an agreement with Greencoat to divest our 100% stake in TBPP.
Sørensen said CIPS’s CI-II fund acquired the project in 2015, financed its construction, and successfully reached commercial operations in February 2019.