Meridiam, a Paris-based investment and asset management firm, has reached financial close for its 12 MW biomass cogeneration plant and a pellet production facility located in Champagne-Ardenne region, France.
Meridiam owns 80.5% stake in the facilities while the remaining stakes are held by Caisse des Depots et Consignations and Europeenne de Biomasse.
The pellet plant produces both white and black pellets and has a capacity of up to 120,000 tonnes of pellets per year. The by-products of black pellets will be used to fuel the biomass cogeneration plant, part of whose heat will be used in the pellet production. The black pellets are used by district heating network operators and coal-fired power plants as a coal replacement.
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The development of the project has been approved, following an agreement to reduce their public subsidy by a quarter
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