Greencoat acquires 40 MW Templeborough biomass power plant

By Erin Voegele | October 29, 2019

U.K.-based Greencoat Capital announced Oct. 24 it has signed an agreement to acquire 100 percent of the 40 megawatt (MW) Templeborough Biomass Power Plant Ltd. from Copenhagen Infrastructure Partners.

Greencoat said the investment is being made on behalf of a number of its pension fund clients and represents the company’s first move into bioenergy assets.

The Rotherham, U.K.-based power plant began operations earlier this year and takes in locally sourced waste wood as fuel. The 40 MW capacity facility can power 78,000 homes and offset 150,000 metric tons of carbon dioxide annually.

“We are pleased to announce that we have reached an agreement with Greencoat to divest our 100 percent stake in TBPP,” said Christina Sørensen, senior partner at CIP. “CI-II acquired the project in 2015, financed its construction, and successfully reached commercial operations in February 2019. Since then the plant has been steadily generating renewable power from locally sourced waste wood. We would like to congratulate the new owners on the successful acquisition of a great project.”

Babock & Wilcox Enterprises Inc. constructed the Templeborough plant. On March 4, the company announced its Denmark-based subsidiary had turned over operations of the plant to CIP. At that time, the company also announced Babcock & Wilcox Vølund A/S would provide operations and maintenance services for the plant under a 15-year agreement.

The facility was officially inaugurated on June 24. According to B&W, the Templeborough plant features a B&W Vølund boiler, its state-of-the-art DynaGrate fuel combustion system, and B&W Vølund emissions control technology. It is designed to process up to 270,000 tons of biomass each year from municipal collection points, construction sites, and other industrial and commercial sources. B&W indicated facility can process waste wood, including contaminated wood and fuel containing metals, with no pretreatment required.