GREENVOLT – ENERGIAS RENOVÁVEIS, S.A. (“GREENVOLT”), wholly-owned by ALTRI, SGPS, S.A. has reached an agreement with fund managers Equitix Group (“EQUITIX”), for the acquisition of Tilbury Green Power Holdings Limited— the owner of a fully operational BWSC and AET-built renewable energy waste wood fired power plant. Tilbury Green Power is a 41.6 MW biomass project located in the Port of Tilbury, Essex, England. Ownership will be split in a proportion of 51% to GREENVOLT and 49% to the funds managed by EQUITIX.
Nikolaj Holmer Nissen, CEO at BWSC and Lars Kristensen, CEO at AET, comment:
“We are pleased to announce that following successful development, construction and operation of the Tilbury Power Plant, we have divested our ownership of the power plant. We are happy that the new owners recognise the value of the power plant, as well as its future potential. This agreement will allow GREENVOLT, together with EQUITIX, to solidify its position in the European renewable energy sector. We look very much forward to the future cooperation with GREENVOLT and EQUITEX as the new owner and AET and BWSC as the Operation & Maintenance contractor”.
Tilbury Power Plant is situated approximately 25 miles from central London, and it is therefore strategically located to process waste wood for the area, with few alternatives in the vicinity. Its design is based on the unique and well-proven AET Biograte and biomass boiler technology and plays a key role in meeting the UK’s climate objectives by providing renewable baseload capacity. The energy recovery from waste wood is a key element of the waste hierarchy and the circular economy framework.
About Aalborg Energie Technik a/s
Aalborg Energie Technik a/s (AET) is a leading, independent engineering and contracting company supplying biomass-fired boiler plants, power plants and combined heat and power plants in the size range of 25 to 170 MWt. The business comprises design, engineering, delivery and service of plants fired with all forms of biomass. The AET Biomass Boiler and AET Combustion System are based on more than 30 years of hands-on experience with industrial processes, steam generation and biomass combustion.
The company has a recognised reputation for supplying biomass-fired boilers and plants with exceptionally high efficiencies, high availabilities, high fuel flexibility and low emissions. Moreover, with very low maintenance costs, the AET biomass-fired plants ensure you, as an investor, a viable business case.
About Burmeister & Wain Scandinavian Contractor
Burmeister & Wain Scandinavian Contractor A/S (BWSC) are experts in servicing, upgrading, operating, and maintaining energy systems for renewable power plants. We help our customers increase reliability and availability of energy production, improve efficiency and performance of their power plant, design and integrate future-proof technologies, and secure lower cost of maintenance.
Having designed and built hundreds of plants around the world, BWSC has the flexibility and knowhow to deal with almost any limitation or challenge.
BWSC originates from the stationary engine division of Burmeister & Wain (B&W), which has built and installed diesel engines since 1904. BWSC was established as a separate specialist company in 1980 and was acquired by Japanese Mitsui E&S Holdings Co., Ltd. in 1990.