In the United Kingdom (UK), Copenhagen Infrastructure Partners K/S (CIP) has announced that the Snetterton Renewable Energy Plant (SREP) in Norfolk, East Anglia has been handed over to the owners after a construction period of 29 months, which is one month ahead of schedule and within the agreed investment budget of GBP 175 million (≈ EUR 196.7 million). The biomass power plant has a capacity of 44 MWe and will generate enough green electricity to supply 82 000 homes.
In 2013, Burmeister & Wain Scandinavian Contractor A/S (BWSC) and Copenhagen Infrastructure Partners K/S (CIP), together with PensionDanmark, formed a joint venture, BWSC PLC Ltd (BPCL), to build, own and operate biomass power plants.
The company closed its first contract for the Brigg project in 2013, and the 40 MWe Brigg Renewable Energy Plant (BREP) was officially opened in May 2016 after entering commercial operation in January 2016.
The completion of Snetterton is a continuation of the successful cooperation between PensionDanmark, BWSC, and CIP, which started with the Brigg power plant. The completion ahead of schedule also demonstrates the value of forming partnerships between financial investors and strong industrial companies, said Christina G. Sørensen, Senior Partner in CIP.
The second project is the Snetterton project where the investment decision was taken in November 2014. Located in Norfolk in East Anglia, England, Snetterton is based on Danish biomass energy technology supplied by BWSC under a turnkey engineering procurement, and construction (EPC) contract. The 44 MWe plant uses a mix of straw, oilseed rape, miscanthus, and wood as fuel.
We are very pleased with the good cooperation with CIP and BWSC. The completion of our second project together is a strong evidence of the success of our joint venture model. It provides PensionDanmark with an attractive return, and at the same time, we are helping to increase Danish energy technology exports and are supporting the transition to a climate-friendly energy production. We look forward to more projects together, said Torben Möger Pedersen, CEO, PensionDanmark.
Furthermore, BWSC is responsible for operation and maintenance of the plant under a 15-year O&M agreement, which commenced on the date of completion of the plant. The local staff consists of around 30 employees. Snetterton is owned by Copenhagen Infrastructure I K/S, which has PensionDanmark as the founding and sole investor, together with BWSC.
The completion of the Snetterton power plant is an important milestone in achieving BWSC’s strategic objective of growth by financing of and investing in power plants. The collaboration with CIP and PensionDanmark has strengthened BWSC’s position as market leader within the building, operating and owning decentralised biomass power plants, and we look forward to continuing this fruitful partnership, said Anders Heine Jensen, CEO in BWSC.
