Igneo Infrastructure Partners, a division of Australian asset manager First Sentier Investors (FSI), is in talks to acquire the Spanish biomass energy firm Enso Energy Environment and Sustainability (Enso).
This follows a formal announcement of the potential acquisition submitted to the competition watchdog in Portugal.
Enso specializes in the development and operation of biomass-based power and thermal plants and operates in Portugal through its subsidiary, Magestop. Igneo currently owns Finerge SA, which is recognized as Portugal's second-largest renewable energy producer, focusing on wind and solar farm operations.
According to the filing with the Portuguese competition authority AdC, the acquisition will be pursued through a subsidiary named Colliston Invest SL, which aims to gain sole control over Enso. The AdC has invited interested parties to comment on this proposed acquisition.
Enso is currently owned by the T2 Energy Transition Fund, a private equity fund initiated by Tikehau Capital SCA in partnership with TotalEnergies. Through its Magestop subsidiary, Enso manages the operation and maintenance of two 15-MW biomass power plants located in Fundão and Viseu, Portugal.
In Spain, the company is involved in project development, engineering, construction, operation, maintenance, biomass gathering, and other related services for energy plants.
