Foresight Energy Infrastructure Partners (FEIP) and JLEN Environmental Assets have each invested €26.75m to buy a 45% shareholding in a 16.8MW energy-from-waste plant in southern Italy.
The duo have bought equity stakes in Energie Tecnologie Ambiente (ETA) in Apulia from Marcegaglia Investments. The seller retains a 10% equity shareholding in ETA.
ETA has been operational since 2012. The plant produces 126,000MWh of electricity per year.
Richard Thompson, partner at Foresight and co-Manager of FEIP, said: “We are delighted to add our first energy-from-waste investment to the growing FEIP portfolio. This investment underlines our appetite for a diverse range of energy infrastructure projects that contribute to the transition to a low carbon economy across Europe.
“As with all investments in the FEIP portfolio, ETA has been externally validated as compliant with the EU Taxonomy, acting as a further endorsement of the project’s contribution to the global sustainability agenda.”
Richard Morse, chairman of JLEN, said: “We are happy to announce JLEN’s investment into this energy-from-waste plant which leverages the knowledge and experience gained in owning a number of bioenergy assets already.
“This is JLEN’s first investment in Italy and we look forward to co-owning this locally important asset alongside FEIP and the seller.”
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