Orrick Advises Infracapital and Bioenergy Infrastructure Group


Orrick has advised Infracapital's greenfield platform on its investment in Bioenergy Infrastructure Limited ("BIG"). Created to address the need for renewably sourced, reliable power generation, BIG will invest in the construction of biomass and energy-from-waste plants in the UK and will acquire such plants once constructed. BIG comprises the investors Infracapital, Helios Energy Investments, Aurium Capital Markets and Foresight Group.
BIG made its first investment (which reached financial close in October 2015) in a renewable energy plant to be constructed at Ince Park in Cheshire. The plant will be fueled with recycled and virgin wood and is designed to generate enough electricity to meet the average needs of 37,000 homes. Orrick has subsequently advised BIG in connection with its second investment (which reached financial close in November 2015) in Energy Works Hull, a 25 megawatt refuse derived fuel powered plant in Hull, which will be the first waste-to-energy plant to utilise the U.K. Government's contracts for difference regime. The plant is designed to generate power for up to 43,000 homes. The Ince Park and Energy Works Hull projects have aggregate estimated capital costs in excess of £300 million.  
The cross-practice Orrick team advising on the transaction was led by energy and infrastructure partner Matthew Williams and corporate partner Jinal Shah who were supported by partners Anne O'Neill and Stephen Philips, of counsels Elisabeth Blunsdon, Scott Morrison and Andrew Denye and associates Katie Cotton, Henry Storrar and Jack Mead.
Matthew Williams commented: "We are delighted to have advised Infracapital on the initial groundbreaking transaction which established Bioenergy Infrastructure Group and to have advised the Group on its second substantial investment. We look forward to assisting them in expanding their portfolio of renewable energy assets in the UK."