The transaction is part of the development plan of EPH to expand into the European renewables business. The total earnings before interest, taxes, depreciation and amortization (EBITDA) of both companies is about € 50 million ($59 million), with a workforce of about 950 jobs, direct and indirect.
This is the group’s second investment in biomass energy after the conversion project of the 400 MW carbon power plant of Lynemouth, as part of the coal “phase out” program promoted in the United Kingdom.
“Biomass could be the best tool to meet the goal of coal phase-out foreseen by the new National Energy Strategy, as proven in the UK and in Denmark”, said Marco Arcelli, EPH Business Development Director.
