Global renewable energy producer Akuo has sold its biomass plants in Croatia to infrastructure manager Ancala, allowing the company to concentrate on its core solar, wind and storage businesses.
Ancala has invested an unspecified amount to buy Akuo’s 5MW biomass plant in Gospić and the Elektrana Grubišno Polje (EGP) and adjacent Sirocco drying facility in east of Zagreb.
As part of the transaction, the current management team, led by Laurent Sessa, will remain in place to operate the combined heat and power plant. Ancala plans to assist the management team in increasing the plant’s heat sales and enhancing its performance.
Chris Lee-Evans, VP at Ancala, said: “This acquisition doubles the capacity of our renewables platform in central Europe. The management team bring invaluable operational and market knowledge to support the future growth plans of the portfolio.
“We are looking forward to working with them to explore organic and acquisitive opportunities which further expand the portfolio across central and eastern Europe.”
EGP’s genaral manager Sessa, said: “We’re excited to join the Ancala portfolio and benefit from their experience within the biomass sector. The team’s proven track record for accelerating the expansion plans of companies like ours was really attractive and will enable us to grow the business and increase our heat capacity.
“Croatia’s 2030 National Energy and Climate Plan aims to produce 36.4% of its national energy requirements from renewable energy by 20301. We are looking forward to increasing our role in contributing towards this objective.”
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