iCON Infrastructure Partners II has completed the divestment of its interests in Beckton Energy Limited (Beckton) and Rothes CoRDe Limited (Rothes) to Arjun Infrastructure Partners (AIP). iCON’s co-investor at Beckton, Melquart Limited (Melquart), also sold its stake in the company.
Beckton is the owner of an 18MWe / 28MWth bio-liquids fired combined heat and power plant (CHP), which is strategically located in London and integrated with key infrastructure owned by the major utilities Cadent Gas Limited (formerly National Grid Gas Plc) and Thames Water Utilities Limited, to which Beckton provides heat and electricity respectively.
Rothes is the owner of an 8MWe/34MWth CHP plant located in Speyside, Scotland and uses a combination of woodchip and a by-product of the whisky distillation industry known as draff to sustainably generate electricity. Rothes plays a critical role in whisky distillers’ production chains and, more broadly, the local economy.
Both the Rothes and Beckton facilities are accredited to receive two renewable obligation certificates for each MWh of electricity generated.
iCON II was advised on the sale by Evercore Partners and Norton Rose Fulbright. AIP was advised by DC Advisory and Travers Smith. Melquart was advised by Simmons & Simmons.
