Ancala has more than doubled the capacity of its Croatian biomass platform with the acquisition of three 5MW plants from The Sherif Group.
The infrastructure fund manager said the biomass plants, brought from the Croatian wood trading business, lifts the platform’s renewable energy generation capacity to 25MW, comprising five sites, generating renewable electricity from forestry and agricultural biomass.
Financial details were not disclosed.
The newly acquired sites, located in Glina, Karlovac and Brinje, benefit from long-term feed-in tariffs and biomass supply agreements similar to the existing sites in Gospić and Grubišno Polje.
Laurent Sessa, CEO of Ancala’s Croatian biomass platform, said: “This acquisition marks a significant step towards our ambition to build a leading renewable power producer in Croatia. The Ancala team played a pivotal role in identifying, managing and delivering the acquisition.
“We’re excited to work closely with the teams at each plant, share expertise and further improve the platform, playing our part in contributing to Croatia’s 2030 National Energy and Climate Plan to produce 36.4% of its national energy requirements from renewable energy by 2030.”
Chris Lee-Evans, director at Ancala, said: “This transaction more than doubles the platform’s renewable energy capacity and creates additional opportunities to capitalise on operational and commercial synergies across the platform.
“We are actively working with Laurent and the management team to integrate these new sites and explore additional bolt-on acquisitions to further expand the platform.”
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