Cycleenergy, a renewable energy company based in Austria, acquires a biomass CHP plant and a wood pellet production facility from innogy, a German energy and energy services company.
About the Seller – innogy
innogy SE (“innogy”) is a German energy company headquartered in Essen, whose main business is the generation, distribution and supply of electricity, gas and other forms of energy. The biomass CHP plant and the wood pellet production plant in Siegen-Wittgenstein, Germany, were sold as part of a strategic realignment of innogy’s core renewable energy business to focus on other renewable energy technologies. innogy operates a diversified portfolio of power generation assets including renewable energy sources such as wind, solar and hydro.
About the Buyer – Cycleenergy
Cycleenergy Holding GmbH (“Cycleenergy”) is a renewable energy company based in Vienna, Austria. The Company was founded in 2008 and specialises in the development, construction and operation of biomass power plants and waste-to-energy plants. The Company’s waste-to-energy plants convert municipal solid waste and other organic waste into energy and useful by-products such as compost and fertiliser. Cycleenergy operates several biomass power plants and waste-to-energy plants in Austria and other European countries with a total installed capacity of more than 70 MW.