JLEN Environmental Assets Group to acquire Cramlington Renewable Energy Developments.

JLEN Environmental Assets Group, the listed environmental infrastructure fund, agreed to acquire Cramlington Renewable Energy Developments, which owns a biomass combined heat and power plant. Financial terms were not disclosed. "We are happy to announce JLEN's first investment into large scale biomass CHP, which leverages the knowledge and experience gained in owning a number of bioenergy assets already. We believe that assets such as these provide a sustainable source of renewable heat and power that can be utilised as baseload power to the grid and a direct provision to nearby industrial customers. The plant has a strong operational track record and we look forward to optimising this asset for the future," Richard Morse, JLEN Chairman.