Friday 19 July 2019

Infrastructure fund buys Yorkshire Hydropower in £4.3m deal

London-listed environmental infrastructure fund JLEN has bought Yorkshire Hydropower Holdings in a deal worth £4.3 million.

The company holds the rights to two operational hydro projects – both accredited under the Feed-in Tariff scheme - and an operational battery storage system, which is dedicated to a Firm Frequency Response contract.

That includes the 500kW single-turbine Kirkthorpe hydropower project located on the River Calder, the 260KW Thrybergh hydro project on the River Don and a 1.2MW battery co-located at Thrybergh.

It is JLEN’s first investment in the two sectors, further diversifying its portfolio, which consists of solar, wind, anaerobic digestion, waste and wastewater.

The latest acquisition increases the total capacity of assets in JLEN’s investment portfolio to 281.16MW.

Chairman Richard Morse 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.”