The Boards of German biogas operator, agri.capital S.a.r.l (agri.capital) and UK-based biogas manager, BioWatt Developments Limited (BioWatt) have announced that they have entered into a mutual cooperation framework agreement.
Münster-based agri.capital, which currently operates biogas plants at 80 locations in Germany, hopes the agreement will give it an ‘instant’ entry into the UK market, open up investment opportunities, and enable it to gain a 50 megawatt (MW) capacity (worth approximately £50 million) in the UK through majority ownership of BioWatt’s biogas projects. BioWatt will also offer long-term facilities management of its own and third party projects.
According to agri.capital, the agreement has seen the company take control of a 'substantial pipeline with a number of projects at various stages of development' and those with planning permission for construction to start in 2013 are expected to be announced in the first quarter of 2013.
Dr Anton Daubner, CEO of agri.capital, welcomed the agreement, saying that he hoped the partnership would be agri.capital’s ‘first step into becoming a significant player in the UK market’.
“Biogas is unique among renewable energy sources in being reliable, storable, and transportable, with application for electricity, heating and transport. We believe biogas and biomethane will be critical to Europe reaching its renewable energy and greenhouse gas reduction targets for 2020 and beyond. We have built a substantial business in the EU, principally in Germany, and we are very pleased to be able to partner with BioWatt as our first step into becoming a significant player in the UK market.”
Michael Roberts, Chairman of BioWatt, added: “BioWatt is extremely pleased to be entrusted with the crucial mission to spearhead agri.capitals’ entry into the UK market. agri.capital has the experience and expertise to become a dominant force in this sector in a similar way to its successes in mainland Europe. BioWatt has the skills and knowledge to fulfill the key complementary role through its own resources, networks and knowledge of the key investment factors relevant to the UK Biogas market. A number of projects are currently in the process of final evaluation by agri.capital and BioWatt is actively seeking new opportunities where it can add further value.”
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