Clessidra renews efforts to sell 350 MW Prenergy biomass project in UK

In the UK, Italian private equity firm Clessidra announced that it will sell the 350 MW Prenergy power station project which, when completed, will be the UK’s largest biomass-fired power plant. The Royal Bank of Canada has been retained to manage the sale process, which Clessidra expects to close this year.

The South Wales-based plant will burn wood biomass imported from the US, and will cost $562 million before it is completed in 2013. Rothschild previously had been handling the sale before the switch to RBC.

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