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JLEN acquires 45% stake in Italy-based Energy-from-Waste plant
StockMarketWire.com
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Infrastructure fund JLEN said it had acquired a 45% stake in Energie Tecnologie Ambiente S.r.l, a 16.8 megawatt energy-from-waste power plant located in in Southern Italy.
The company invested €26.75 million, alongside Foresight Energy Infrastructure Partners, which will also acquire a 45% equity stake.
The seller of Energie Tecnologie Ambiente, Marcegaglia, would retain a 10% equity stake in the Plant.
Completion of this acquisition were subject to a number of conditions, which are expected to be finalised by the end of May 2021.
'We believe that assets such as these provide a vital outlet for non-recyclable waste that would otherwise be sent to landfill, and which can be used to generate baseload power to the grid, the company said.
At 8:17am: (LON:JLEN) Jlen Environmental Assets Group Limited share price was 0p at 119p
Story provided by StockMarketWire.com
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