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Insolvency administrator Frank Mößle from PLUTA Rechtsanwalts GmbH has sold the business operations of the insolvent Biogas Westerwald GmbH & Co. KG from Ettinghausen in Germany to ABO Kraft & Wärme Ettinghausen GmbH & Co. KG. Following many rounds of negotiations with investors from the energy industry, Mößle has now succeeded in selling business operations as part of the restructuring programme. The parties agreed not to disclose any details concerning the purchase price.
Frank Mößle, graduate of Business Management and German public auditor, commented: “In the past few months, we have managed to create the prerequisites for a successful sale. This also involved finding a very good solution for the creditors.”
The biogas plant was built in Ettinghausen in Rhineland-Palatinate, Germany, in 2008. The stationary internal combustion engines for use with biogas produced from garbage have a rated thermal input of 1.777 MW. The throughput capacity of the biogas plant is 44 tons per day.
Biogas Westerwald had declared bankruptcy in July 2012. The Local Court of Montabaur appointed the restructuring expert Frank Mößle as the insolvency administrator. During the receivership, Mößle succeeded in maintaining all the permits required for complying with the German Federal Emissions Control Act (BImSchG), thus ensuring the operational reliability of the plant at all times – a decisive factor for successfully finalising the deal. In the past two years, Mößle has maintained close ties with the local authorities responsible for approvals and authorisations.
The insolvency administrator, together with the new owner, also switched the measuring concept of the biogas plant to a so-called “excess supply”. Moreover, the changeover for the grid operator was applied for before 1 August 2014, when the reform of the German Renewable Energies Act (EEG) came into force, which means that the new operator can still benefit from the old feed-in legislation.