Octopus Renewables acquires two operational UK biomass plants

Octopus Renewables has acquired 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). Two plants, located in Brigg, North Lincolnshire and Snetterton, East Anglia, were acquired with the investment of funds managed by Octopus.

Both facilities at Brigg (40.8 MW) and Snetterton (44.9 MW) 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.

Rothschild & Co acted as the financial advisor and Herbert Smith Freehills as the legal advisor to Copenhagen Infrastructure Partners on the sale of the assets, while Burgess Salmon was the legal advisor for Octopus on the deal, and EY provided tax structuring advice.