Overview

Infinis is the largest generator of electricity from landfill gas (“LFG”) in the UK, with a portfolio of 121 landfill sites and total installed capacity of over 300MW.

Alkane Energy acquisition

In March 2018, the Company announced its intention to increase its investment in Infinis by £125 million to fund Infinis’s acquisition of Alkane Energy (‘Alkane’), an independent power generator from both coal mine methane (‘CMM’) and reserve power (‘Peaking’) operations and the largest generator of electricity from CMM in the UK.

Recent developments

Infinis performed strongly in the year, thanks to good operating performance, higher power prices and price volatility which benefitted the power response assets in particular. It has faced some challenges in its Captured Mineral Methane business due to lower engine availability and reliability. Infinis’s cashflows are positively correlated with UK RPI inflation through the index-linked Renewables Obligations Certificate regime.

Infinis continues to deliver on its strategy to grow into a diversified and low-carbon renewable energy player: on the solar front Infinis now has 117MW of consented sites with 97MW expected to commence construction in FY23.

An additional 100MW is currently in the planning process with a longer-term potential for a further 200MW+. It has experienced some delays in solar project development together with higher development costs.

In parallel, Infinis is developing a complementary pipeline of potential battery sites to capitalise on expected continued power price volatility. Infinis has 36MW of projects expected to commence construction in FY23.