Bioverda, the bioenergy division of NTR, has acquired Irish Power Systems (IPS) from co-owners the ESB and Electric Power Controllers for €38m.
Bioverda says the acquisition makes it the main supplier of electricity generated from landfill gas in Ireland.
IPS currently has installed electrical power generating capacity of 22 MWs utilising gas from landfill to generate electricity for supply to the national grid.
'The conversion of methane sourced at landfill to electricity is a very efficient means of providing much needed green energy to the Irish market,' said John Mullins, CEO of Bioverda.
The ESB said that it sold its 50% holding for €17m and that it will now focus its renewable growth strategy through Hibernian Wind Power and is in the process of developing new wind farm.
Bioverda also announced today a €37m investment in a biodiesel facility in Ebeleben, Thuringen in Germany, through its subsidiary, Emerald Biodiesel GmBH.
This is the second Bioverda facility in Germany, having previously announced the construction of a similar facility in Neubrandenburg.
The integrated oil-mill and biodiesel production facility, which will have an output capacity of 110 millions of litres of biodiesel from rapeseed annually, will commence production in the first quarter of 2007.
Biodiesel is an alternative to petroleum-based diesel fuel and is made from renewable sources such as vegetable oil or animal fats.
