Sector:  Renewable Energy

Value:  >£160 million

Acquirer:  Glennmont Partners

Deal type:  Sale

The partners of ASA advised long-standing renewable energy developer Eco2 and its shareholders on the sale of its 40MW waste wood-fired biomass plant located near Margam, South Wales to Glennmont Partners, a fund manager focusing exclusively on investment in clean energy infrastructure biomass plant, in a deal worth in excess of £160 million. Further funding will be provided by Deutsche Bank AG, supported by Danish export credit agency Eksport Kredit Fonden.

ASA partners worked closely with the management team at Eco2 for over 18 months providing a combination of corporate, property, commercial and finance expertise to bring the deal to a successful close. The sale marks the successful completion of a joint venture between Eco2 and the Western Logs Group. The power station will be built by a consortium consisting of Danish company Babcock Wilcox Volund and Interserve Construction. BW Volund will also operate the plant.