SDCL, a firm focused on investing in the energy efficiency sector for the betterment of environment and infrastructure, agreed to acquire an 80% stake in Sociedade de Iniciativa e Aproveitamentos Florestais, a high-efficiency and operational biomass cogeneration plant, from Sonae Arauco , a producer of wood-based panels, for €22m. The acquired project generates electricity which benefits from the Portuguese Feed-in-Tariff to the grid. As a result, it is expected to benefit from at least a further 23 years of stable, inflation linked, contracted cashflows with no demand risk, providing good visibility of returns for SEIT. It contracts operation and maintenance activities to Capwatt, which will retain a 20% equity interest in the project.