Sleaford renewable energy plant refinanced in £150m deal

No Caption ABCDE EMN-170822-171514001
No Caption ABCDE EMN-170822-171514001

A £150 million refinancing deal has been closed to secure the future of a straw-burning renewable energy plant in Sleaford.

Glennmont Partners has completed the refinancing for Sleaford’s Biomass Plant, which opened in 2014.

The plant harnesses energy from the combustion of straw, secured mainly from farms within a 50-mile radius of Sleaford, with a majority from within a 30 mile radius. Ash produced by the plant is recycled as crop fertiliser.

Joost Bergsma, CEO of Glennmont Partners, said: “Glennmont is delighted to be completing one of the largest biomass transactions of 2017. This transaction further highlights that biomass is a highly efficient renewable energy technology.”