September 29, 2008
RWE Innogy UK to Acquire 100% Interest in Helius Energy Alpha
RWE Innogy UK has announced that it is acquiring 100% of Helius Energy Alpha from British alternative energy company Helius Energy.
Helius Energy Alpha owns the rights for the development and operation of the Stallingborough biomass power plant to be built in North East Lincolnshire. Overall, RWE Innogy will invest approximately E260 million in this project.
The Stallingborough biomass plant is designed for a gross capacity of 73MWe. It will be fueled with wood residuals or forest biomass. The majority of the required biomass will be contractually secured on a long-term basis. RWE is already conducting talks with companies interested in possibly using the thermal output.
Fritz Vahrenholt, CEO of RWE Innogy, said: "This transaction enables RWE Innogy to enter the UK biomass market successfully. Overall, we intend to increase the generation of electricity and heat from solid biomass almost five-fold to 600MWe in Europe by 2011. The UK is an extremely important market for these growth plans."