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Capital Dynamics buys 68-megawatt portfolio of biomass power plants in Australia

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November 11
7:47 AM 2013

Asset manager Capital Dynamics purchased a portfolio of biomass power plants in New South Wales, Australia. The 68-megawatt portfolio was comprised of two power plants of which its base loads were fully operational. The plants get their power source from biomass and waste of local sugarcane products. They produce power and steam, which are sold to the National Electricity Market as well as to sugar mills found near the plants.

When they were built in 2008, the plants were the biggest renewable energy generators in the country. By using Siemens steam turbines and Babcock boilers, the plants are able to utilize combustion technology which is widely used in the industry.  

David Scaysbrook, the Managing Director of Capital Dynamics' Clean Energy and Infrastructure or CEI team, said about the acquisition, "This is a compelling investment which we have financed on an all-equity basis. Our investment breathes new life into the power plant operation and the future prospects for the local community in which they operate -especially to the local sugar cane growers who are so critical to the region's economy." He added that the company planned to own and operate the assets for the long term. Capital Dynamics also intended to improve the power plants so that they would be able to give robust financial returns to their investors from different sources of revenues.

Capital Dynamics Chief Executive Officer Stefan Ammann said their CEI team was experienced at making successful investments in thermal power plants and renewable energies as well as in operating them. Ammann said, "This successful acquisition is another example of how their deep industry knowledge and experience can translate into significant revenue generation potential for our long-standing clients."

The CEI team of Capital Dynamics had purchased, constructed and managed over 230 megawatts of clean energy capacity. Capital Dynamics has USD 18 billion of assets under management.

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