Euro BioEnergy Holdings, a European biomass development platform, today announced the acquisition of German biomass power plant Biomasse Heizkraftwerk Herbrechtingen GmbH from its former owners Sturm Holding GmbH & Co. KG, Fortum Power Holding B.V., and Ingenieurburo Oskar von Miller GmbH. Financial details were not disclosed.
Biomasse Heizkraftwerk Herbrechtingen GmbH owns and operates the Herbrechtingen BioHKW power plant with a total firing capacity of 49MW and electrical capacity of 15MW. The plant commenced operations in 2004 and produces electricity in accordance with Germany’s Renewable Energy Sources Act. It currently provides steam to two customers, German Pellets GmbH and Sturm Holz GmbH, both of which are located adjacent to the plant.
Dieter Waffel, Managing Partner of MMC Energy UK LTD (“MMC”), manager of Euro BioEnergy Holdings, commented on the transaction: “BioHKW Herbrechtingen is the second combined heat and power biomass plant in our growing portfolio of biomass power plants in Germany. We intend to continue to expand the portfolio of bio-energy projects in Germany and other European countries that have favourable regulatory regimes and market conditions. The strength and guaranteed stability of the German renewable energy law ensures that the German bio-energy portfolio will continue to be a key part of our European focus.”
The transaction was sourced and executed by MMC. After the transaction’s close, MMC’s operations and development company NovusEnergy GmbH, Elmshorn (“Novus”), will operate and manage the Herbrechtingen plant, just as it does for Euro BioEnergy’s Brunsbuttel plant. The current O&M team at Herbrechtingen will transition to Biomasse Heizkraftwerk Herbrechtingen GmbH after an initial six-month period. Georg von Kriegsheim, a senior MMC member, will act as Managing Director of Biomasse Heizkraftwerk Herbrechtingen GmbH and oversee the transition.
MMC was advised on this transaction by the Hamburg office of CMS Hasche Sigle. Esche, Schumann, Commichau, Hamburg, acted as legal advisors to the sellers and Angermann M&A International GmbH, Hamburg, acted as M&A advisors.