UK - Clessidra seeks buyer for Prenergy Power

Prenergy is behind the controversial £400m Port Talbot biomass power station. The project is said to be a 350MW facility capable of powering about half a million Welsh homes.

The company received clearance to go ahead with the project in 2007. According to the company website, construction was to commence in Q2 2008 with the facility becoming fully operating in Q1 2011. However, development has been delayed by a prolonged environmental evaluation process and discussions with the local community over the plant's impact. The company finally received authorisation in September last year.

Speculation about the company being up for sale has been going around at least since February last year, when Rothschild was allegedly hired to explore alternatives. At the time Dutch company Dong Energy was rumoured to be the acquirer however, the company remains to this date wholly owned by Clessidra, which acquired it in 2008.

It is understood that Royal Bank of Canada has been retained for the sale process.

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