Search Share Prices
3i Infrastructure to lift Infinis investment by £125m
3i Infrastructure on Monday said it was investing another £125m in electricity supplier Infinis to help fund its purchase of independent power generator Alkane Energy.
Alkane is the UK's largest generator of coal mine methane, while Infinis is the largest generator of electricity from landfill gas in the UK.
"The merger of Alkane with Infinis will create a business with significant scale, offer operational improvement opportunities and the potential to further elevate Alkane's generation performance and growth potential," 3i said.
Founded in 1994 and headquartered in Edwinstowe, Nottinghamshire, Alkane has approximately 40 employees. The company operates the largest portfolio of CMM sites in the UK, capturing methane from mothballed and closed coal mines and converting it into electricity.
As at December 2017, Alkane had 160MW of installed generating capacity operating across 32 sites across the UK.
"Alkane performs a vital environmental service, extracting methane from abandoned coal mines that would otherwise be released into the atmosphere," 3i said.