Environmental infrastructure fund acquires Yorkshire hydro project
Listed environmental infrastructure fund, JLEN has confirmed it has acquired Northern Hydropower Holdings for a total consideration of £4.74m.
The purchase includes the Northern Hydropower’s two Yorkshire-based assets, Knottingley hydro, a dual turbine project commissioned in October 2018 on the River Aire and the co-located 1.2MW battery storage that was commissioned in January 2018.
The acquisition increases the total capacity of renewable energy assets in the JLEN investment portfolio to 304.7 MW and also includes De Lank hydro, a Cornish based hydro power asset.
Richard Morse, chairman of JLEN, said: “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.”