Aug 30, 2017

JLEN has bought Vulcan Renewables in a deal worth £15.3mn

Renewable Energy
James Henderson
2 min
Renewable energy
JLEN, the listed environmental infrastructure fund, has bought Vulcan Renewables Ltd for a total consideration, including working capital, of £15.3m...

JLEN, the listed environmental infrastructure fund, has bought Vulcan Renewables Ltd for a total consideration, including working capital, of £15.3mn.

The acquisition, in partnership with experienced operator Future Biogas Ltd, is the Company's first investment in the anaerobic digestion sector, further diversifying the company's portfolio of environmental infrastructure projects including, wind, solar, waste and wastewater.

Vulcan Renewables has been acquired from Venture Capital Trusts managed by Downing LLP having provided the original funding into the business in 2012.

See Also:

Richard Morse, the Chairman of JLEN, said "We are pleased to make our first investment in the anaerobic digestion sector through Vulcan Renewables, a project with a proven operational history. With its RPI-linked RHI and FiT revenue streams, the project adds to the diversification of the JLEN portfolio."

The plant, located in Hatfield Woodhouse near Doncaster, was commissioned in October 2013, and was one of the first commercial biogas-to-grid projects in the UK.

It has a capacity of 5MWth and predominantly produces biomethane. In addition, the plant also has a 0.5MWe CHP engine and is accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT).

This acquisition brings the total capacity of the renewable energy assets in the JLEN portfolio to 230.2 MW.

The acquisition was funded by a draw-down under the Company's revolving credit facility.

Share article

May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

Share article