Clean energy developer React Energy has announced the acquisition of certain assets of GG Eco Solutions, a developer and operator of biomass heat generation projects in the UK.
The acquisition is part of React Energy's strategy to bolster its biomass business through strategic acquisitions in the UK's mid-market biomass sector.
It said in a statement that it is seeking further acquisitions, including biomass conversion plants from 500 kW to 20 MW in capacity.
Gerry Madden, CEO of REACT, commented: "The Board of React is delighted to be acquiring the assets of a company with a strong pipeline in the mid market biomass sector, its already operational plants and its strong relationships with funders such as Equitix.
"This acquisition is a key part of the group's strategy to act as a consolidator of the fragmented UK biomass energy infrastructure market. We believe that this now positions the group as the leader in the mid-market biomass power generation sector in the UK."
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