John Laing Environmental Assets has acquired another anaerobic digestion (AD) plant.
The deal for the 5MWth Warren AD plant in Methwold, Norfolk, is valued at £14.8m subject to additional deferred payments up to £0.8m.
That is lower than the £18.1m JLEN paid for the 5MWth Merlin plant last year and the £36m spent to acquire to similar schemes, Egmere and Grange Farm.
Commissioned in December 2015, the plant produces biomethane primarily for grid injection and also burns it in a 0.5MWe CHP engine to produce power, earning both RHI and FiT payments.
The Warren AD plant has been acquired from EIS funds managed by Amersham Investment Management and minority shareholders, Future Biogas Ltd (FBL).
FBL will continue to provide management, operations and maintenance services to post-acquisition. FBL provides O&M to other JLEN AD assets, including the Vulcan, Merlin, Biogas Meden, Egmere and Grange Farm plants acquired by the fund since it entered the market two years ago.
John Laing buys fifth AD plant in 12 months
Investors eye AD subsidies as power price predictions fall
Net zero: How to decarbonise heat?
Click here to see if you qualify for a free subscription to the print magazine, or to renew.
Follow us at @EnergystMedia. For regular bulletins, sign up for the free newsletter.