Octopus Renewables announced the acquisition of two operational UK biomass plants with a combined capacity of 85.7MW.
The two plants, located in Brigg, North Lincolnshire and Snetterton, East Anglia, have been acquired with investment provided by funds managed by Octopus, one of which includes a recently announced fund by UK workplace pension provider Nest.
Octopus will manage both sites, adding to the five biomass plants that it currently manages across the UK.
Peter Dias, Investment Director at Octopus Renewables, said: “We’re delighted to grow our portfolio of biomass power with these two plants – marking one of the largest deals of its kind in the UK.
“We view biomass as playing a crucial role in diversifying the UK’s energy mix and supporting the UK farming industry through the sourcing of feedstock fuels.”