Round 2 deadline for UK energy efficiency portfolio
The binding offers deadline for a UK-based energy efficiency portfolio is looming.
Equitix Energy Efficiency Fund (EEEF) is in the process of offloading its entire portfolio, with binding bids due on 19 October (2022).
The portfolio comprises biomass projects, combined heat and power (CHP) plants, and district heating/cooling systems.
Known bidders are:
- Foresight Group
- SDCL
Another bidder is also thought to be in the fray, with Evercore and Ashurst acting as financial and legal advisers respectively on the sell side.
IJGlobal exclusively reported last month (August) that non-binding offers had been submitted on 28 July, with the sale announced in June (2022).
The fund’s assets include:
- Gaia Waste Wood Biomass to Heat Plant (11.6MW)
- Welland Waste Wood Power Station (9MW)
- Nottingham CHP Plant (6.8MW)
- Guardbridge Biomass Plant (6.5MW)
- Holbrook CHP Plant (6.5MW)
- Wrexham Biomass Plant (5.4MW)
- Ignis CHP Plant (3.5MW)
EEEF reached final close in April 2015, having secured £151.5 million ($163m) in commitments. Limited partners include the European Investment Bank, which committed £30 million to EEEF.
Equitix was approached for comment but had not replied by the time of publication.
