Neoelectra Management, a biomass platform sponsored by ArcLight Capital Partners, has acquired Fuente de Piedra Gestion and Biomasa Fuente de Piedra from Spain’s Grupo Aldesa. No financial terms were disclosed.
ArcLight Capital Partners, LLC (“ArcLight”), through its wholly owned affiliate Neoelectra Management, SLU (“Neoelectra”), acquired 100 percent of the common stock of Fuente de Piedra Gestion, SAU and Biomasa Fuente de Piedra, SAU (owners of a 16.4 MW CHP and 8.9 MW biomass plant respectively) from a wholly owned affiliate of Grupo Aldesa (“Aldesa”). Madrid-based Aldesa is among Spain‘s largest privately-owned real estate and construction companies, with more than 3,800 employees and total sales in excess of euro 1.5 billion at the end of 2008.
Neoelectra is a strategic platform company which ArcLight established in Spain in order to capitalize on the opportunity to aggregate a profitable portfolio of cogeneration and biomass plants through acquisitions from non-energy corporates looking to refocus on their core businesses. Neoelectra is actively pursuing other M&A opportunities within the Iberian Peninsula.
About ArcLight Capital Partners, LLC
ArcLight is one of the world’s leading energy investment firms with more than $6.8 billion under management. ArcLight’s investment team has extensive energy investing experience, industry relationships, and asset level knowledge. ArcLight is headquartered in Boston, Massachusetts with offices in New York City, London and Luxembourg. More information about ArcLight can be found at http://www.arclightcapital.com.