Biomass facility in Karlovac (photo: Ancala)
Independent infrastructure manager Ancala has acquired three biomass plants from Sherif Group in Croatia.
Ancala’s Croatian Biomass Platform has taken over three biomass power plants with a 5 MW capacity each from Croatian wood trading firm Sherif Group, according to Ancala.
The acquisition more than doubles the platform’s renewable energy generation capacity to 25 MW and expands its footprint of biomass plants across Croatia.
Financial details of the transaction are undisclosed, Ancala said.
Power plants utilize forestry and agricultural biomass
The platform now comprises five sites in Croatia, generating renewable electricity from forestry and agricultural biomass.
Collectively, the plants generate approximately 200,000 MWh of renewable electricity annually, equivalent to powering over 45,000 homes each year, the update reads.
The platform’s existing plants are located in Gospić and Grubišno Polje, and the newly acquired plants are located in Glina, Karlovac and Brinje.
These plants have been operating since 2017, 2020 and 2021, respectively.
Sessa: Our ambition is to build a leading renewable power producer in Croatia
All three newly acquired sites benefit from long-term feed-in tariffs and biomass supply agreements that are similar to the contracts the platform’s existing plants have in place. The plants utilise low-grade forestry biomass sourced from local suppliers, Ancala explained.
According to Croatian Biomass Platform CEO Laurent Sessa, the acquisition marks a significant step towards our ambition to build a leading renewable power producer in Croatia.
The platform has also recently appointed Tihana Stupnisek as CFO to support the group’s expansion.
Lee-Evans: We are exploring additional acquisitions
Ancala Director Chris Lee-Evans pointed out that it is actively working with Sessa and the management team to integrate these new sites and explore additional bolt-on acquisitions to further expand the platform.
Ancala noted that it has invested over EUR 1 billion in critical infrastructure companies operating within energy transition and renewables.
This transaction marks the 24th bolt-on acquisition that the infrastructure manager has enabled its portfolio firms to complete, Ancala added.
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