Built by a consortium of Burmeister & Wain Scandinavian Contractor and Burmeister and Wain Energy, the plant was acquired by Glennmont in December 2011.
The project construction was financed through a debt package provided by NIBC Bank, RBS, Siemens Bank and Unicredit Bank.
Glennmont managing partner Joost Bergsma said: "Sleaford is a landmark deal not only for Glennmont but for the UK biomass industry as a whole."
In addition to providing free heat to local sports clubs and community facilities, the Sleaford power plant is expected to generate enough electricity to power 65,000 homes.
The facility, claimed to be built as per the highest environmental standards, will create and support jobs in local agriculture.
Currently, Glennmont is managing more than 300MW of biomass, wind and solar power in France, Ireland, Italy, Portugal and the UK.
Glennmont Partners aims to develop a diversified portfolio of renewable projects across Europe to deliver robust and sustainable returns for its investors.
