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Michelmores’ Corporate team has advised Amersham Investment Management on the sale of Warren Power Limited and its anaerobic digestion (AD) plant in Norfolk, to John Laing Environmental Assets (JLEN).
JLEN’s acquisition was for an initial consideration, including working capital, of £14.8 million, subject to additional deferred payments up to £0.8m.
Warren Power Limited was owned in a joint venture capacity by EIS funds managed by Amersham Investment Management and Future Biogas. Future Biogas will continue to manage, operate and maintain the AD plant going forward.
The Warren AD plant is located in Norfolk, UK and became operational in March 2016. The plant has a thermal capacity of c.5MWth and mainly produces biomethane to be injected to the national gas grid.
Alexandra Watson, Partner in the Energy team led the project, with support from Senior Associate Philip Parrott, Solicitor Adam Quint and paralegal Amy Tomlinson.
Alexandra commented: “We are delighted to have advised Amersham on this strategic disposal to JLEN. This is the second AD exit where we have advised Amersham and we are delighted to have supported them through the process”.
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