Sleaford biomass plant sold for £170m
Renewable energy company Eco2 has sold its 38MW straw-powered biomass plant in Sleaford for £170m.
The plant was bought by specialist investor BNP Paribas Clean Energy Fund.
Eco2 obtained planning permission for the project in 2008. Following the sale, Eco2 will manage its construction and subsequent operation.
"Biomass is set to provide around half of all of the renewable energy required if Europe is to meet its targets," said Eco2 chief executive David Williams.
He added: "Each year this project will inject around £10m into the local economy from its fuel supply contracts and it will also create new jobs for the area during construction and operation."
The total programme for the building of the Lincolnshire plant will take 30 months and Eco2 expects the first deliveries of straw to be made towards the end of 2013.
