Esken renewables Botswana

Who owns Esken renewables?

Esken Renewables has been sold to sustainable infrastructure fund Pioneer Balmoral UK, its parent company Esken confirmed last month (1 December 2023).

Does Esken renewables have a sub supply agreement with Chilton biomass?

As announced previously, Esken Renewables also entered into a new sub supply agreement to support the Chilton Biomass plant, replacing the supply provided by the Port Clarence processing and storage site, creating an additional £0.9m of annual recurring EBITDA from April 1, 2023.

Is Esken Renewables a positive outcome?

“The sale of Esken Renewables is a positive outcome set against a persisting challenging market with an increase in interest rates over the last 12 months that has supressed M&A activity.

How will Esken renewables perform in 2024?

As a result, Esken Renewables is now expected to deliver EBITDA of circa £19m for the full year. Management expect that normalised plant operating levels and waste wood supply will return in 2024 and, as of March 1, 2023, all plants are operating.

Why did pioneer Balmoral buy Esken renewables?

The managers of Pioneer Balmoral UK, Pioneer Point Partners LLP, explained on their website that they were acquiring Esken Renewables with a strategy to continue scaling the business. They added: ‘The Company is strongly aligned with Pioneer’s objectives of contributing to the green transition and to the circular economy.’