Marcegaglia Investments sells 90% interest in 16.8 MW Manfredonia energy-from-waste project in Apulia

Foresight Group Holdings Limited has entered a deal to acquire a 90% equity shareholding in Energie Tecnologie Ambiente S.r.l. Foresight Energy Infrastructure Partners SCSp (FEIP) and JLEN Environmental Assets Group Limited (JLEN), an environmental infrastructure investment fund managed by Foresight, have each acquired a 45% shareholding in ETA. The seller, Marcegaglia Investments S.r.l., has retained a 10% equity stake.

Completion of the investment is subject to a number of conditions precedent, which is expected to be satisfied by the end of May 2021, with the funds investing a combined EUR53.5 million (US$65.39 million).

Operational since 2012, ETA is a 16.8MW energy-from-waste (EfW) power plant that processes Refuse Derived Fuel (RDF), produced from household waste. Located in the municipality of Manfredonia in the Apulia region of southern Italy, the EfW plant processes 137,500 tonnes of waste per annum, diverting this from landfills. The plant produces about 126,000 MWh of electricity per year, enough to power approximately 35,500 homes.