Copenhagen Infrastructure Partners (CIP) and Burmeister & Wain Scandinavian Contractor (BWSC) have reached an agreement to sell the Kent Renewable Energy Plant, a biomass heat and power plant in the UK, to Greenvolt – Energias Renováveis, S.A. The deal, expected to be finalized by October 2024, marks a significant divestment for the companies involved.
The Kent Renewable Energy Plant, developed in partnership with original developer Estover, received a Final Investment Decision in August 2016. Since its commercial operation began in September 2018, the plant has been performing well, qualifying for the Renewables Obligation Certificate (ROC) regime and Renewable Heat Incentive (RHI) regimes in the UK.
This divestment aligns with CIP's strategy of optimizing its portfolio. Florian Küster, a Partner at CIP, highlighted the importance of divestments in the company's business model. He stated, “We are pleased to announce the divestment of Kent Renewable Energy Plant in a transaction that recognises the value generated so far by CIP and our co-shareholder BWSC during the development, construction, and operation of the plant.”
The sale of the Kent Renewable Energy Plant is the fourth exit from biomass investments in the UK for CIP's Flagship Funds since 2019. Combined, these four plants have an installed capacity of 150MW, providing power to 350,000 households and offsetting 800,000 tonnes of CO2 annually.
