| Energy
A renewable energy facility at the heart of the Isle
of Wight has been sold to a London investment firm
in a major multi-million
pound deal
Leading property agency Fisher German has sold an
Anaerobic Digestion (AD) facility in Arreton to leading
independent infrastructure and private equity investment
manager, Foresight Group.
isher German,
working as joint
agents with BCM
surveyors, acted
on behalf of an
entrepreneurial
consortium to sell the site,
achieving considerably above the
guide price.
The standalone facility is based on
a 24 acre site and converts biogas
to biomethane as part of a Gas to
Grid injection scheme. The energy
captured on the site is then
supplied to a local market as well
as into the national gas grid. CO2,
a by-product from the process is
compressed and sold as well.
Foresight Group purchased the
site to add to its portfolio of
renewable energy plants, and has
established a market leading
position in AD having previously
invested into 25 greenfield and
operational AD plants in the UK
and Germany
David Kinnersley, Associate
Director at Fisher German, said: “I
assisted the consortium in 2013
F
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when they were originally looking
to finance the project, and then
last autumn they expressed an
interest in selling the site.
“We spent several months working
with the client to carefully prepare
for the sale, ensuring that all of the
relevant contracts were correctly in
place and that there were no
unresolved compliance issues
around planning.
“We used our knowledge of the
sector to approach those who I
knew were keen to buy, and we
had a total of ten applicants before
selecting Foresight Group as the
preferred buyer. The market is
changing rapidly with
consolidation taking place at the
moment.
“Anaerobic Digestion facilities do
not come to the market often, and
we had a high level of interest
particularly as the business is well
run. We are very happy to
conclude the sale of the site,
achieving a very good result for
our client.”
August 2018 | Farming Monthly | 21