The figure includes £200 million already raised for the launch of the Bioenergy Infrastructure Group (BIG), which has been building up a portfolio of biomass and energy from waste since its genesis in October.
Aurium said the announced closures of coal-fired plants, the falling cost of renewable generation and the UK’s slow progress towards emissions targets are making renewables an attractive investment.
Partner at Aurium, Steven Blase, said: “The announcement over coal makes the UK’s reliance on renewables even stronger, and we believe that the growing focus from investors for assets that provide long-term steady returns with low or no correlation to other more mainstream asset classes makes this an increasingly attractive investment proposition for institutional investors.”
Last week, Engie announced it is planning to close Rugeley coal-fired power station over the summer, and the week before SSE said it was planning to shut down most of the units at Fiddler’s Ferry in April.
BIG recently agreed to the construction of two energy from waste projects – a 21.5MW plant at Ince Hill in Cheshire and a 25MW plant in Hull. The latter is expected to be operational by January 2018.