Yorkshire hydropower firm joins London environmental fund in £4.3m acquisition
London-based environmental infrastructure fund JLEN has acquired Yorkshire Hydropower Holdings (YHHL) in a £4.3m deal.
JLEN has acquired the owner of 100 per cent of the equity in Yorkshire Hydropower Limited (YHL), which in turn holds the rights to two operational hydro projects and a battery storage system.
As part of the deal, JLEN has acquired Yorkshire-based projects including Kirkthorpe hydro, a 500kW single turbine hydro project located on the River Calder, Thrybergh hydro, a twin screw 260kW hydro project located on the River Don and a 1.2MW battery co-located at Thrybergh.
The acquisition is part of the London firm’s plans to diversify its portfolio by investing into two new sectors: run-of-river hydro and battery storage.
Richard Morse, Chairman of JLEN, said: “We are pleased to make our first investment into two new asset classes in run-of-river hydro and battery storage.
“These projects have a proven operational history, benefit from strong contractual revenues and broaden the diversification within the JLEN portfolio. Furthermore, they demonstrate the synergistic benefits of co-locating renewable energy generation and storage technology.”
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