Investing in a sustainable waste-to-energy plant
The biomass plant located in the south eastern municipality of Cuijk in the Netherlands was capable of annually producing 150,000 MWh of green electricity before being mothballed in 2010 by its owners, the electric utility company RWE, when it no longer fit their core activities. In 2015, a group of former managers with in-depth knowledge of the ten year-old plant decided to prepare a plan to acquire, re-commission and operate it, inviting NIBC to become joint equity partners in the venture.
We worked creatively alongside the experienced management team to take a 49% equity participation in BECC B.V., the company created to purchase and run the plant.
Through the investment, NIBC and the former RWE managers have prevented the Cuijk biomass plant from falling into disrepair. The team has worked closely together to develop BECC’s business proposition, which includes the supply of heat and steam to local industrial parties.
After a successful recommissioning period of three months, the plant has been producing green power again since October 2015, equivalent to the annual consumption of 50,000 households.
We’ve had a very positive experience with NIBC because they really understand the entrepreneurial side of this proposition. Their views came from the financial side and even in the initial phase of the negotiations they were very positive and cooperative, always trying to find solutions for the various challenges we faced in making sure the deal went through.- Daniel Goedhuis, Managing Director of BECC, and former RWE manager