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By IPE staff2021-04-28T10:40:00+01:00
Octopus Renewables has invested in two UK biomass plants on behalf of its funds, one of which is backed by UK workplace pension provider Nest.
The specialist clean energy investor arm of Octopus Group has paid an undisclosed sum to buy the plants with a combined capacity of 85.7MW from a joint venture by Copenhagen Infrastructure Partners and Burmeister & Wain Scandinavian Contractor. The two plants are located in Brigg, North Lincolnshire and Snetterton, East Anglia.
The joint venture completed construction of the £162m (€186m) Brigg plant and the £175m Snetterton plant in 2016 and 2017 respectively.
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Octopus Renewables, the specialist clean energy investor arm of Octopus Group, has announced the acquisition of two operational UK biomass power plants, with a combined capacity of 85.7 MW, from a joint venture by Copenhagen Infrastructure Partners (CIP) and Burmeister & Wain Scandinavian Contractor (BWSC), in one of the largest deals of its kind in the UK.
The two plants, located in Brigg, North Lincolnshire and Snetterton, East Anglia, have been acquired with investment provided by funds managed by Octopus, one of which includes a recently announced fund cornerstoned by UK workplace pension provider Nest.
Both facilities at Brigg (40.8MW) and Snetterton (44.9MW) are fuelled by a mixture of locally sourced biomass feedstocks. Octopus will manage both sites, adding to the five biomass plants that it currently manages across the UK.
April 30, 2021, by Adrijana Buljan
Ørsted has opened an office in Hanoi, Vietnam, in anticipation of a booming offshore wind market in the country.
While presenting its latest financial results and plans on 29 April, the offshore wind developer said it was looking to build a local team and work diligently with government authorities and local partners.
“Vietnam has a great potential and optimal conditions to develop offshore wind and we are exited to be making our first steps in this market”, Ørsted said.
Vietnamese government has released draft Energy Master Plan including a minimum 3-5 GW offshore wind target in 2030 and a 9-11 GW target for 2035, the developer said.