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Renewable energy developer Eco2 has sold a 44.2MW biomass project to a Scandinavian consortium for £160 million.
A joint venture between contractor BWSC and PensionDanmark will take on the East Anglia based project which is expected to be operational by spring 2017.
PensionDanmark will invest DKK 1.4 billion (£149 million), while BWSC will invest the remainder be responsible for constructing, operating and maintaining the plant.
The straw-fired plant will be fuelled through contracts with local suppliers which are already in place for the coming 12 years, Eco2 said.
Eco2 chief executive said the deal is “significant” for the UK’s biomass industry and brings the value of company’s asset sales deals over the past three years to £490 million.
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