Environmental infrastructure fund invests millions in Yorkshire energy projects
An environmental infrastructure fund has today announced a multi-million pound investment in Yorkshire following its acquisition of energy efficiency projects in the area.
JLEN, based in Guernsey, has acquired Northern Hydropower Holdings for £4.74m, meaning that two Yorkshire assets have changed hands.
These are the Knottingley hydro, a 500kW dual turbine hydro project located on the River Aire, and a 1.2MW battery also located at Knottingley.
This acquisition increases the total capacity of renewable energy assets in the JLEN investment portfolio to 304.7 MW.
The acquisition was funded by a draw-down under the company’s revolving credit facility.
Richard Morse, chairman of JLEN, commented: “We are pleased to make our second investment into run-of-river hydro and battery storage, building upon our existing portfolio in this sector.
“As with our other hydro assets, these projects have a proven operational history, benefit from strong contractual revenues and broaden the diversification within the JLEN portfolio.”
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