Bioenergy Infrastructure Group (BIG) has raised £150 million from its shareholders to finance its planned investments in biomass and energy-from-waste plants.
The additional funding was provided by Infracapital, Helios Energy Investments and Aurium Capital Markets. BIG has now raised a total of more £600 million since launching in 2015.
“We are committed to supporting the UK’s move towards a low-carbon economy, whilst simultaneously contributing to regional job creation and growth,” said BIG chief executive Hamish McPherson.
“We now look forward to being able to take advantage of new opportunities as the renewable energy sector in the UK institutionalises and enters a consolidation phase.”
The company has so far invested in more than 20 energy projects across the UK with a combined capacity of more than 100MW. It completed the purchase of a 70MW asset portfolio from the Green Investment Group last November.
“We have achieved a leading position in the UK’s biomass and waste to energy sectors by establishing a diversified portfolio of assets with scale and operational synergies,” McPherson added.
“This significant new commitment of capital underscores our shareholders’ long-term commitment to BIG and the biomass and energy-from-waste sector.”