UK-based Future Biogas has expanded its plant portfolio after purchasing six gas-to-grid anaerobic digestion (AD) facilities from JLEN Environmental Assets Group Limited (JLEN).
As part of the £68.1m ($87.5m) deal, Future Biogas will acquire 51% of the portfolio, which has a combined gas output of 333GWh (gigawatt hours).
According to the agreement, £30m ($38.5m) will be funded by investment firm 3i Infrastructure, with the balance funded by Future Biogas from committed debt facilities.
Commenting on the buyout, Philipp Lukas, CEO of Future Biogas, said, “We know the assets well, having developed them and managed them for an average of eight years.”
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