Wednesday, October 7th, 2015
Glennmont Partners has completed the purchase of the Port Clarence Energy Project on behalf of its clean energy fund, Glennmont Clean Energy Fund Europe II (“The Fund”), in an £160m deal.
The Port Clarence Energy Project will see a new biomass power generation plant built at Port Clarence, Stockton-on-Tees, providing 40MW of CHP-enabled renewable energy to the UK Energy market.
The plant is expected to become operational during the first quarter of 2018. The purchase and further construction of the Port Clarence Energy Project is being supported and debt arranged by Deutsche Bank and Danske Bank with the support of EKF, the export credit agency of Denmark.