Foresight exits Bioenergy Infrastructure Group amid $195m fundraising

Founding members Infracapital, Helios and Aurium double down on the firm, as the latest investment takes BIG to $782m raised over the past three years.

UK biomass and waste-to-energy specialist Bioenergy Infrastructure Group has raised £150 million ($195.5 million; €170.5 million) to fund new investments, backed by founding members Infracapital, Helios Energy Investments and Aurium Capital Markets.

Foresight Group, also a BIG founding member, sold its stake in the business to Aurium as part of the fundraising, but will continue advising the firm. Infracapital – BIG’s largest shareholder – said it had used the new fundraising to offer co-investors in its £1.25 billion Infracapital Greenfield Fund a chance to get direct exposure to BIG.

This is the third “substantial” equity-raising BIG has undertaken in the past three years, amassing a total of £600 million.

BIG has more than 20 projects in its biomass and waste-to-energy portfolio, one of the largest in the UK, including more than 100MW of operational and late-stage construction assets. The portfolio is capable of powering some 250,000 homes across the UK and will divert more than 1 million tonnes of waste from landfill.

The Biomass and waste-to-energy sectors are growing healthily in the UK, currently providing around 20 percent of the country’s renewable energy, according to July data from UK Energy Statistics.