Northampton renewables firm sold for £185m

Northampton-based renewables firm Infinis is set to be sold to FTSE 250 company 3i Infrastructure in a deal worth £185m.

3i Infrastructure will complete the deal to buy the assets by the end of November.

Infinis is the largest landfill has (LFG) electricity generator in the UK with 121 sites across the country.

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission.  It is a long-term investor in infrastructure businesses and assets, focused on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.

Richard Laing, chairman, 3i Infrastructure, said: “We are very pleased to have acquired Infinis, the largest landfill gas business in the UK. The strong cash generation profile of Infinis is a natural fit for 3i Infrastructure and complements the existing portfolio well.”

Ben Loomes and Phil White, managing partners and co-heads, Infrastructure, 3i Investments, added: “Our long-term plans for the business primarily involve a continuation of management’s existing focus on maximising gas and electricity yield, driving cost efficiencies, maintaining strong relationships with landfill owners and other key stakeholders, and maintaining the highest standards of environmental, health and safety management. In addition, as gas and electricity output from the current LFG portfolio declines, we will seek opportunities to monetise spare engine and grid connection capacity.”