Triple Point Energy Efficiency Infrastructure Company has completed the acquisition of energy centres on the Isle of Wight that supply heat, electricity and carbon dioxide to the UK’s largest tomato grower, APS Salads. The deal includes 15 year energy services agreement with Harvest Generation Services Limited and Glasshouse Generation Limited .
The company identified the CHP+ assets as targets at IPO.
Since 2015 new Rolls-Royce gas engines with heat/carbon dioxide recovery and distribution equipment (ie CHP+ units) at Harvest and Glasshouse have resulted in an improvement in electric efficiency (~42% efficiency compared to ~33%) and thermal efficiency (~48% efficiency compared o ~32%). The new engines are therefore less carbon intensive and thecarbon dioxide is used to enhance crop yields on site rather than being vented into the atmosphere.
Jonathan Parr, Triple Point, said: ”We are pleased to have deployed these funds into Harvest and Glasshouse, two assets which deliver highly energy efficient services to a critically important UK domestic producer of essential food items.
We have a strong pipeline of investment opportunities and look forward to updating the market on the next investments to be made by TEEC in the short term.”