Green Investment Bank Funds

In 2012, Foresight was appointed as the first external fund manager by the UK Government’s Green Investment Bank ("GIB”), and was awarded an initial tranche of £50m, extended to £78m in March 2015, to invest in renewable energy and related waste infrastructure across the UK. The Fund is fully invested on a pari passu basis with matching institutional capital.

  • Fully deployed at £78m
  • Average equity investment of £9m
  • Average total project size of £47m
  • Total capital mobilised to date of £380m

 

Fund Status

  • UKWREI: Fully invested
  • Waste Assets LP: Fully invested
  • RAW: Open for investment

 

Fund Portfolio


 
 
Green Investment Fund

East London Biogas Ltd

The Fund invested £2m into East London Biogas Ltd in order to develop a 30,000 tonnes per annum AD plant providing 1.4MW of energy, and a 19,000 tonnes per annum IVC plant. The facility has been developed at a 4.71 acre site located on the Sustainable Industry Park in Dagenham, East London and became fully operational in April 2014.

Evermore LPS Holdings Ltd

The Fund invested £17.8m into Evermore LPS Holdings Ltd in order to develop a 16.2MW wood fuelled Combined Heat and Power ("CHP”) plant on a ten acre site in Derry, Northern Ireland. The Project, which is expected to become operational in 2017, is forecast to be the largest renewable energy project in Northern Ireland, increasing the amount of renewable electricity generated in the area by approximately 10%.

Birmingham Bio Power Ltd

The Fund invested £6.6m into Birmingham Bio Power Ltd in order to develop a 10.3MW recovered wood gasification plant in Tyseley, Birmingham. This Project is the first of its kind in the UK and is expected to become operational by early 2016. The plant will convert recovered wood into electricity utilising Nexterra’s proprietary gasification technology, a form of advance thermal treatment for waste wood.

Par Biogas Ltd

The Fund invested £1.4m into Par Biogas Ltd to develop a 499kW on-farm AD plant in Cookstown, Northern Ireland. The Project will process 18,500 tonnes of silage slurry and waste per annum, sourced from the farms on which the Project is located. The Project represents the first in a number of on-farm AD plants that the Fund is assessing in Northern Ireland.

Willen Biogas Ltd

The Fund invested £7.4m, alongside a further £7.5m from the FEF, into Willen Biogas. This is a 30,000 tonnes per annum food waste AD plant and 25,000 tonnes per annum green waste composting facility in Enfield, North London. The project will provide new capacity for the treatment of London waste.

Bridge Energy Ltd

The Fund invested £1.7m in Bridge Energy (NI) Ltd to develop a 499kW on-farm AD plant in Banbridge, Northern Ireland. The Project will process 18,500 tonnes of silage slurry and waste per annum, sourced from the farm on which the Project is located as well as from land on two neighbouring farms. The Project represents the second in a number of on-farm AD plants that the Fund is assessing in Northern Ireland.

Mersey Bioenergy Ltd

The Fund invested £10.1m into Mersey Bioenergy Ltd to develop a 20.2MWe, 7.8MWh wood fuelled Combined Heat and Power ("CHP”) plant which will be built on a 180 hectare site in Widnes, as part of the Mersey Multimodel Gateway logistics hub. The Project, which is expected to become operational at the end of 2016 will be the largest renewable energy facility in the North West, generating enough renewable energy to power more than 35,000 homes each year.