The bioenergy division of infrastructure group NTR has announced it has bought Irish Power Systems (IPS) for €38 million.
"The acquisition of Irish Power Systems has come at an ideal time for Bioverda as we develop our bioenergy business," said John Mullins, chief executive of Bioverda.
"The conversion of methane sourced at landfill to electricity is a very efficient means of providing much needed green energy to the Irish market."
Previously jointly owned by the ESB and Electric Power Controllers, IPS currently has total installed electrical power generating capacity of 22 MWs, utilising
gas from landfill to generate electricity for supply to the national grid.
Bioverda also announced today an investment of €37 million in a new biodiesel facility in Germany through its subsidiary, Emerald Biodiesel.