Infinis

Infinis is the UK's largest independent renewable energy generator

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Infinis has an installed renewable energy generating capacity of 574 MW, consisting of 336 MW of biogas generation, 221 MW of wind generation and 17 MW hydro generation together with a significant future pipeline. Infinis was formed in a spin-out of the biogas division of Terra Firma’s waste disposal business, WRG, in 2006.

Investment strategy 

Asset-Backed: The business had 57 MW of installed capacity at acquisition, enough to power 76,000 homes. 

Essential Industry: The newly spun-out Infinis business retained the rights to the biogas produced from WRG’s landfill sites and used it as fuel to produce renewable energy for the UK electricity grid.

Requiring Fundamental Change: The fledgling biogas division of WRG was identified as a profitable growth business underpinned by the growing focus on alternative energy sources and the government financial incentives put in place to encourage investment. The business had been undermanaged, with its generating capacity under-developed and some capacity outsourced to third parties.

Creating value 

  1. Transforming strategy

    • The biogas division was demerged from WRG and a standalone business, Infinis, with a new management team created.
    • Infinis has undertaken an organic development strategy to expand its biogas portfolio.
    • The site operations were overhauled with the establishment of leading-edge in-house engineering capability.
    • Through acquisitions and subsequent organic development, the business has added wind and hydro generation to its portfolio, and it continues to develop these pipelines.
    • When the business was acquired, it was a very small non-core, neglected and largely outsourced unit within a waste company. Today, the business is completely transformed into a standalone enterprise that ranks as the leading independent renewable energy generation company in the UK.
  2. Strengthening management

    • Terra Firma set up a standalone governance structure and installed a new management team with experience in renewable energy, appointing a new CEO, CFO, Commercial Director and Head of Wind Development.
  3. Developing through capital expenditure

    • Infinis has invested heavily in the roll-out of its gas collections systems and engines, taking the biogas generating capacity from 57 MW to 336 MW.
    • Infinis has actively managed a pipeline of wind development options and currently has a number of wind assets with planning awaiting construction, with more in the near-term pipeline.
    • Infinis has established one of the industry’s most advanced control centres, a facility which monitors the environmental and operational performance of its generating capacity across the UK on a 24/7 basis.
  4. Building through mergers and acquisitions

    • Infinis’s acquisition of Novera in 2009 added 148 MW of capacity and increased its development pipeline. It has since completed a number of significant acquisitions to enhance its onshore wind portfolio.
    • Infinis has become the largest independent renewable generator in the UK, with 574 MW of installed capacity – enough to provide power to over one million users - and a strong pipeline for future growth. It has a portfolio diversified across biogas, onshore wind and hydro power.
  5. Lowering the cost of capital to create extra upside

    • The diversification of its power portfolio and the geographic spread of its assets within the UK has reduced the business’s operational risk.
    • In December 2009, Infinis completed a refinancing providing the business with five-year funding.

Status of Investment: The Infinis investment is partially realised.


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574MW

of installed capacity

1.1m

capacity to provide power to over one million electricity consumers