Black Pearl Capital Partners (“BPCP”) today announced that it has acquired a 118 acre infrastructure site near Blackburn, UK. The site which formerly operated as the Sappi Paper Mill is BPCP’s latest UK acquisition in its strategy to develop renewable energy parks that focus on biomass power, water treatment and bio-fuels production.
The paper mill in Feniscowles, Blackburn is the third renewable energy site BPCP has obtained alongside Aeternum Capital, its co-investor and asset manager. Proposals for the site will include a renewable power generation facility as well as the potential for a residential redevelopment.
“We are excited about adding another renewable energy park to our portfolio,” said Reza Irani-Kermani, CEO of Black Pearl Capital. “The site in Blackburn is our third large brownfield site in the UK, and it has the potential to provide a large number of local jobs once we’ve developed it for reuse.”
As part of this strategy, BPCP also announced that it has started demolition works at its Castleford site in Yorkshire following a long program of decommissioning and decontamination of the existing chemical plant.
The above-the-ground demolition project has been carefully planned to avoid any disturbance of existing ground conditions. Once the demolition work is completed, a remediation exercise will take place early next year. The group is currently working with industry experts; including URS and Newfields in association with Cambridge University, the Environment Agency and Wakefield’s Containment Land Team, to develop the remediation plan.
About Black Pearl Capital Partners
Black Pearl Capital Partners is a private equity fund with a committed capital of USD 50m set up and managed by Black Pearl Capital (“BPC”). BPC is an asset management and advisory firm registered in the Cayman Islands, with offices in Europe and the Middle-East where its dedicated team of professionals provide its clients with specialized wealth and investment management services, as well as deal specific transaction advice. For more information, visithttp://blackpearlcap.com.
About Aeternum Capital
Aeternum Capital works alongside partners, such as Black Pearl Capital, to originate investments, create value, and deliver solutions for their UK Infrastructure Assets across Renewable Energy sectors including Biomass, Waste-to-Energy, Biofuels and associated commercial activities. For more information, visit www.aeternumcapital.com