Kyotherm is pleased to announce the successful acquisition of Renewable Heat Generation Limited (RHG), including 53 biomass installations in the UK.
RHG is a company specialized in supplying renewable heat (heating and domestic hot water). This heat is produced from wood pellet boilers, and RHG owns over 100 such boilers located in 53 care homes in England, Scotland and Northern Ireland. Founded in 2013, RHG’s innovative business model has enabled customers to benefit from renewable, reliable and affordable heat, replacing old and inefficient gas and oil-fired facilities. Over the next 20 years, the company is expected to supply over 450 GWh of renewable heat. It is to generate over £2 million in annual turnover.
A NEW STEP IN THE GROWTH OF THE KYOTHERM GROUP
The acquisition of RHG and its biomass installations marks a further step in the growth of Kyotherm’s renewable energy infrastructure portfolio, reaching a total capacity of 80 MW. Kyotherm’s installations will produce over 180 GWh per year of renewable heat or energy savings.
The transaction was financed in partly through structured non-recourse bank financing with the Scottish bank Clydesdale Bank PLC. This is the second transaction between Clydesdale Bank and Kyotherm in the last 3 months.
Thibault Chevallier, investment director at Kyotherm, commented:
“The acquisition strengthens Kyotherm’s presence in the UK with a diversified, well-structured and high-quality portfolio of assets. The United Kingdom’s strong and ambitious public support mechanism for renewable heat is essential for promoting such initiatives by attracting competitive capital, thereby producing clean, affordable energy in the long term. “
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