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Privatised investment firm sells EfW assets

2000 ince biomass

The first transaction of the Green Investment Group under new owner Macquarie has been to sell 20 facilities to the Bioenergy Infrastructure Group (BIG).

The group, previously called the Green Investment Bank, was formally acquired by Macquarie on 18 August. The assets it has sold are four biomass and incinerator facilities, 15 anaerobic digestion plants and a MRF.

The energy sites have a combined generating capacity of more than 70MW and are based in Northern Ireland (12), England (seven) and Scotland (one). The largest is the Mersey Bioenergy facility in Widnes, a 20MW waste wood plant.

It is a major boost to BIG’s existing portfolio which comprises the 24MW Energy Works facility in Hull and the 21.5MW Ince facility in Cheshire (pictured). 

BIG was established in late 2015 by investors Aurium Capital Markets, Foresight Group, Helios Energy Investments and Infracapital.

Hamish McPherson, BIG chief executive, said: “Rising demand for electricity from industry and consumers, and the need to treat waste in an environmentally sustainable manner, reinforced the importance of biomass and energy-from-waste (EFW) technologies.

“BIG’s aim is to support the future development of the UK’s biomass and EfW capacities – and therefore enable these technologies to make a growing contribution to the UK’s low-carbon, electricity intensive economy. By investing in and supporting a network of efficient, technologically advanced facilities, we can positively impact regional economic growth and job creation in the process.”

James Samworth, chief investment officer, said: “Biomass and EfW are two bioenergy asset classes capable of achieving the scale necessary to make a meaningful reduction in UK carbon emissions.

“We are constantly looking for opportunities to grow its portfolio and increase its activity in the market to support its ambitions to develop a long-term sustainable business. The incorporation of these assets into our portfolio is a positive step, and ensures continuity for the companies in the portfolio and their counterparties.”

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