SDCL closes acquisition of 125 MW Spanish CHP and biomass portfolio
SDCL Energy Efficiency Income Trust plc (SEEIT), an investment vehicle of SDCL Energy Efficiency Investments, has completed the acquisition, previously announced on 20 September, of a portfolio of nine cogeneration projects in Spain from Sacyr S.A.
The 125 MW portfolio includes five combined heat and power (CHP) plants, two olive processing plants and two biomass plants. Sacyr will continue to operate and maintain the portfolio. It generates clean and renewable energy by operating at high levels of combined electrical and thermal efficiency, using the waste heat from the electricity generation for the industrial processes and using the biomass from the industrial processes to generate renewable electricity.
The acquisition has been financed using approximately EUR79 million (US$87.5 million) of existing cash and approximately EUR71 million (US$78.8 million) of borrowings under SEEIT's credit facilities. These have been drawn down to repay in full the project debt finance facility associated with the portfolio.
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