iCON Infrastructure completes two UK CHP projects equity sale
iCON Infrastructure's second fund has completed the divestment of its stakes in two UK combined heat and power plants to Arjun Infrastructure Partners.
Beckton is the owner of an 18 MWe / 28 MWth bio-liquids fired combined heat and power plant (CHP), which is located in London and integrated with key infrastructure owned by the major utilities Cadent Gas Limited and Thames Water Utilities Limited, to which Beckton provides heat and electricity respectively.
Rothes is the owner of an 8 MWe/34 MWth CHP plant located in Speyside, Scotland and uses a combination of woodchip and a by-product of the whisky distillation industry known as draff to sustainably generate electricity.
Both the Rothes and Beckton facilities are accredited to receive two renewable obligation certificates for each MWh of electricity generated.
iCON’s co-investor at Beckton, Melquart Limited, also sold its stake in the company.
iCON II was advised on the sale by Evercore Partners and Norton Rose Fulbright. AIP was advised by DC Advisory and Travers Smith. Melquart was advised by Simmons & Simmons.
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