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- JLEN makes first investment into large-scale biomass combined heat and power plant
JLEN Environmental Assets (JLEN) has bought a 100% stake in Cramlington Renewable Energy Developments (CRED), which owns a biomass combined heat and power plant (CHP plant) and its underlying contracts. The acquisition of CRED, for an undisclosed amount, was made on a debt-free basis and represents JLEN’s first investment into a large-scale biomass CHP plant.
The CHP plant is located to the north west of the town of Cramlington in Northumberland and utilises proven technology to process a diversified biomass fuel mix, creating up to 28MW of electrical power and 8MW of heat for export via private wire to industrial customers and the grid.
The CHP plant has been fully operational since 2018 and earns revenues from:
Richard Morse, chairman of JLEN, said: “We believe that assets such as these (large scale biomass CHP) provide a sustainable source of renewable heat and power that can be utilised as baseload power to the grid and a direct provision to nearby industrial customers. The plant has a strong operational track record and we look forward to optimising this asset for the future.”
JLEN: JLEN makes first investment into large-scale biomass combined heat and power plant
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