BWSC and the fund Copenhagen Infrastructure I with PensionDanmark have continued their successful joint venture with the creation of a second biomass-fired power plant in the UK. The investment in the Snetterton plant is DKK1.6bn.
In 2013, BWSC and Copenhagen Infrastructure I established a joint venture with the aim to create, own and run power plants abroad. The company closed its first contract for a power plant in England in 2013, with the creation of the Brigg project in Lincolnshire.
BWSC CEO Anders Heine Jensen said: "When we first created the company, I expected that by combining our leading technology in the field of power plants with strong financial powers, we would create a company with strong competitive abilities. What we see today is exactly that."
BWSC is in charge of constructing, operating and maintaining the power plant throughout a 15-year period. The new power plant is scheduled to be operational by early 2017 and will have a capacity of 44.2MW, equivalent to the average energy usage of 82,000 households.
The company has also been contracted to supply straw for the next 12 years.
PensionDanmark will invest DKK1.4bn, which is financed through Copenhagen Infrastructure I and managed by Copenhagen Infrastructure Partners. BWSC will invest DKK0.2bn.
PensionDanmark CEO Torben Möger Pedersen said: "There are great perspectives in this kind of cooperation. We have high demands to the industrial partners we work with on joint ventures, and BWSC fully live up to our expectations.
"We have to secure our members a good and steady return, and this cooperation delivers that."
Copenhagen Infrastructure Partners senior partner Christian Skakkebæk said: "There are great advantages in a more direct cooperation between financial and industrial partners in the energy sector.
"It is not always easily established, but this cooperation is a good example of how it can be done and benefits all parties involved."
Snetterton will produce a yearly CO2 reduction of 300,000t. The developers are Iceni and ECO2, who also developed the Brigg plant.