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Euro BioEnergy Holdings Acquires German Biomass Power Plant Biomasse HKW Herbrechtingen

Posted on: Thursday, 18 December 2008, 11:00 CST

LUXEMBOURG, Dec. 18 /PRNewswire/ -- Euro BioEnergy Holdings, a European biomass development platform, today announced the acquisition of German biomass power plant Biomasse Heizkraftwerk Herbrechtingen GmbH from its former owners Sturm Holding GmbH & Co. KG, Fortum Power Holding B.V., and Ingenieurburo Oskar von Miller GmbH. Financial details were not disclosed.

Biomasse Heizkraftwerk Herbrechtingen GmbH owns and operates the Herbrechtingen BioHKW power plant with a total firing capacity of 49MW and electrical capacity of 15MW. The plant commenced operations in 2004 and produces electricity in accordance with Germany's Renewable Energy Sources Act. It currently provides steam to two customers, German Pellets GmbH and Sturm Holz GmbH, both of which are located adjacent to the plant.

Dieter Waffel, Managing Partner of MMC Energy UK LTD ("MMC"), manager of Euro BioEnergy Holdings, commented on the transaction: "BioHKW Herbrechtingen is the second combined heat and power biomass plant in our growing portfolio of biomass power plants in Germany. We intend to continue to expand the portfolio of bio-energy projects in Germany and other European countries that have favourable regulatory regimes and market conditions. The strength and guaranteed stability of the German renewable energy law ensures that the German bio-energy portfolio will continue to be a key part of our European focus."

The transaction was sourced and executed by MMC. After the transaction's close, MMC's operations and development company NovusEnergy GmbH, Elmshorn ("Novus"), will operate and manage the Herbrechtingen plant, just as it does for Euro BioEnergy's Brunsbuttel plant. The current O&M team at Herbrechtingen will transition to Biomasse Heizkraftwerk Herbrechtingen GmbH after an initial six-month period. Georg von Kriegsheim, a senior MMC member, will act as Managing Director of Biomasse Heizkraftwerk Herbrechtingen GmbH and oversee the transition.

MMC was advised on this transaction by the Hamburg office of CMS Hasche Sigle. Esche, Schumann, Commichau, Hamburg, acted as legal advisors to the sellers and Angermann M&A International GmbH, Hamburg, acted as M&A advisors.

About Euro BioEnergy Holdings

Euro BioEnergy Holdings is a European biomass development platform whose initial geographic focus is Germany. The company remains open to both development and selective acquisitions, with a typical project size between euro 20 million and euro 45 million. The first project is Brunsbuttel, a 7MW of electrical capacity biomass co-generating late-stage development project located in Brunsbuttel, Germany. The project feedstock is NaWaRo (fresh wood) and the output is steam, hot water, and power. Euro BioEnergy is supported by private equity backing from Denham Capital of Boston, Massachusetts for its development and acquisition projects.

About MMC

MMC Energy UK, Ltd is a privately held energy asset acquisition and development company, focused on the renewable sector. MMC is comprised of highly experienced individuals from both the energy and financial services sector. Its conservative approach to project development ensures a strong focus on transaction risk management, including the mitigation of operational, energy off-take, fuel and financing risk.

Contacts: Euro BioEnergy Holdings Luxembourg Phone: +352 266313 28 Alidad Moaveni MMC Energy UK, Ltd Phone: +44 207 796 1077

SOURCE Euro BioEnergy Holdings

Source: PR Newswire

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