iCON Infrastructure has announced that its second fund has completed the sale of its interests in two combined heat and power (CHP) plants located in the UK to Arjun Infrastructure Partners.
One of the plants sold is an 18MWe / 28MWth CHP fired by bio-liquids and located in Beckton, east London. It provides heat and electricity to Cadent Gas Limited (formerly National Grid Gas Plc) and Thames Water Utilities Limited.
The other plant is located in Speyside, Scotland. It produces 8MWe and 34MWth from woodchips and draff, a by-product of the whisky distillation industry.
iCON's co-investor in the Beckton plant, Melquart Energy, has also sold its interest in the project. The two facilities are accredited for 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.