Ancala Partners completes the acquisition of 49% of Ence Energía S.L.U for total consideration of up to €357 million
Ancala Partners LLP (‘Ancala’), the independent infrastructure investment manager, has today completed the acquisition of a 49% interest in Ence Energía S.L.U (‘Ence Energía’ or ‘the Company’) from Ence Energía y Celulosa SA (‘Ence’). Ancala paid €223 million to Ence for the 49% interest. Further consideration of up to €134 million will be paid to Ence over the next eight years subject to the development of certain pipeline projects and the overall performance of the Company.
With installed capacity of 266 MW across eight plants, Ence Energía is the largest generator of renewable energy from agricultural and forestry biomass in Spain. The plants provide green, baseload power to the Spanish grid and benefit from Spain’s green energy regulatory regime. In addition, the Company plays a vital role in Spain’s rural economy, providing a circular solution for waste treatment and promoting local job creation.
The Company is developing a 405 MW pipeline of near-term renewable energy projects in Spain.
Lee Mellor, Partner, Ancala Partners, commented:
“Ence Energía delivers significant environmental benefits from producing renewable energy andproviding an alternative management solution for over 1,500,000 tons of agricultural and forestry biomass each year, which would otherwise be disposed of, wasting its energy potential. We look forward to working with the Company’s management team and our partner, Ence Energía y Celulosa, to support Ence Energía through its next phase of growth.”
Ignacio Colmenares, CEO, Ence Energía y Celulosa S.A., commented:
“We are adding a strong partner to our Energy division, with wide experience in infrastructure development, to boost our growth in renewables in Spain and to contribute to its ecological transition towards a carbon neutral economy.”