May 2024

Renewable electricity generator completes financing deal



Renewable electricity generator Infinis, the UK’s leading provider of low-carbon power from captured methane, has announced an expanded funding structure.

The new £306m deal includes:

  • Creation of an additional £60m capital expenditure facility, to accelerate solar development
  • An extension of the existing £181m term and revolving credit facility, to January 2029
  • The addition of two new banks – HSBC UK and Investec - to Infinis’ banking group.

Commenting on the deal, Keith Reid, the company’s chief financial officer, said: “Infinis is at an exciting point in its development and construction of 1GW of new projects.

“This financing supports the acceleration of new solar and battery projects, which will help us play a key role in supporting the UK’s transition to Net Zero.

“We’re delighted to continue our relationship with Lloyds, NatWest, SEB, AIB and Sequoia, and welcome HSBC and Investec to our banking group.”

James Taylor, Managing Director, Global Head of Infrastructure & Project Finance, Lloyds Bank said: “Lloyds Bank is immensely proud to be a long-term funding bank of Infinis, having supported them and 3i since 2016.

“Supporting our clients with the transition to a low carbon economy aligns with our purpose which is to Help Britain Prosper. We are delighted that our financing will support Infinis to continue delivering critical energy infrastructure for years to come.”

Anupam Sharma, Managing Director, Head of Origination – Energy & Infrastructure Finance, Investec commented: “Investec is delighted to partner with Infinis and 3i Infrastructure on this important transaction. The proceeds of this financing will enable Infinis to continue growing its Solar PV platform and cement their position as a UK leader in low carbon energy generation.”

Euan McLeod, Managing Director, Head of Infrastructure Finance HSBC UK, said: “We are very pleased to be supporting Infinis and 3i Infrastructure with their growth plans for their portfolio of renewable energy, low carbon and flexible generation assets, supporting an important mix of transition assets including solar, batteries, landfill gas and power response, required to help the UK achieve net zero.”

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