Factsheets

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Factsheet - GeoPura

Deal date: February 2024

 

UK Infrastructure Bank is investing £30m of finance to support GeoPura’s roll out of proprietary Hydrogen Power Units (HPUs) and the development of one of the UK’s largest green hydrogen production facilities, which was awarded Government funding in the Hydrogen Business Model Allocation Round 1 in December 2023.

 

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Factsheet - Docklands Light Railway Rolling Stock Replacement Programme

Deal date: December 2023

 

UKIB will support TfL in upgrading their Docklands Light Railway (DLR) service through the acquisition of 54 trains alongside improvements in DLR rail infrastructure. The new DLR trains will both replace existing trains that have reached the end of their useful life and also add new capacity to the DLR network’s services. 

 

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Factsheet - AESC UK Plant 2

Deal date: December 2023

 

UK Infrastructure Bank invests £200m to finance the construction of AESC’s second EV battery manufacturing plant adjacent to the Nissan Factory in Sunderland. This project supports both our climate change and local economic growth objectives by enabling car manufacturers to transition from internal combustion engine (ICE) vehicle manufacture to EVs and creating and supporting jobs in the automotive manufacturing sector in Sunderland and across the UK. UKIB investment is needed to ensure the facility’s construction remains on track and the operational benefits of the plant are realised as soon as possible. 

 

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Factsheet - GLA Green Finance Fund

Deal date: December 2023

 

The Green Finance Fund (GFF)  was launched in June 2023 and supports the Greater London Authority (GLA) in its ambition to accelerate the decarbonisation of buildings, energy, and transport systems to meet London’s Net Zero 2030 target. Projects will deliver benefits in energy efficiency, clean transportation, and renewable energy sectors. 

UKIB’s investment in the GFF will contribute to London’s growing green economy, which is worth £48 billion and employs over 317,000 people across 14,000 businesses.  Our investment will support businesses, stimulate private investment, and create employment opportunities. 

 

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Factsheet - Pragmatic

Deal date: December 2023

 

UK Infrastructure Bank will invest £60m into Pragmatic to support the scale up and manufacture of semiconductors in Meadowfield, County Durham. UKIB played a crucial role as co-lead investor in mobilising private capital and allowing the project to go ahead.
The project is expected to compliment the Government’s National Semiconductor Strategy, supporting both our climate change and regional and local economic growth objectives by fostering technological innovation and developing low emission semiconductor manufacturing in the UK whilst also creating and supporting high skilled jobs.

 

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Factsheet - Pacific Green

Deal date: November 2023

 

National Grid forecasts that the UK needs to increase battery storage capacity by more than five-fold to achieve net zero. Pacific Green will deliver one of the largest batteries in the UK at 250MW. This is five times larger than the recently scrapped 50MW cap on battery storage and two and a half times larger than the largest battery in operation (100MW), helping push battery capacity forward as the market matures.
UKIB are providing a £60m loan to Pacific Green to support construction and operation of the battery. This will help raise 50% of the £120m debt needed to develop a battery of this size and scale.

 

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Factsheet - Gresham House

Deal date: August 2023

 

Bank is investing up to £75m as an early investor in the Gresham House Secure Income Renewable Energy & Storage Fund. The Gresham House fund proposal has been approved by the Bank following its nationwide call in July 2022 for innovative ways to fund electricity storage, alongside its investment in the Equitix UK Energy Storage Fund, represents the Bank’s first equity commitments in the battery storage sector.

 

The fund will focus on developing the co-location of renewable generation and short duration electricity storage facilities to help maximise grid connection and allow for the efficient deployment of renewable generation into new locations. The fund includes a seed asset of a co-located solar and battery energy storage project in Northern England.

 

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Factsheet - Cornish Lithium

Deal date: August 2023

 

UK Infrastructure Bank invests £24m in Cornish Lithium Plc to support a first of a kind lithium extraction and exploration project. This project contributes to our climate change objective via establishing an upstream supply chain for battery production required for the decarbonisation of transport and therefore Net Zero. It is also aligned with our local economic growth objective as this project is expected to create skilled jobs in a region with one of the lowest rates of productivity in the UK. UKIB investment is needed to ensure the demonstration phase and explore the opportunity for the continuation of lithium extraction beyond the testing phase in Cornwall.

 

 

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Factsheet - Equitix

Deal date: August 2023

 

UK infrastructure Bank has committed £125 million on a match-funding basis into Equitix UK Electricity Storage Fund (UK ESF). The Equitix fund proposal has been approved by the Bank following its nationwide call for innovative ways to fund electricity storage, launched in July 2022. Alongside its investment in the Gresham House Secure Income Renewable Energy & Storage (SIReS) Fund, it represents the Bank’s first equity investment in the battery storage sector. This investment will support the fund to develop some longer duration technologies. It will also support the route to market for new business models in the sector that are yet to be deployed at commercial scale. It will help the grid develop the flexibility to fill in gaps in supply across a range of durations, and types of storage which can specialise in different mechanisms that the grid needs to function efficiently.

 

 

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Factsheet - Gridserve

Deal date: July 2023

 

UK Infrastructure Bank invests £45m in Gridserve’s electric vehicle (EV) charging rollout to build around 2000 new public chargepoints across the UK’s motorway network, Gridserve’s Electric Forecourts and various destinations. This project supports both our climate change and local economic growth objectives by supporting the transition from internal combustion engine (ICE) vehicles to EVs and improving connectivity for EV drivers across the UK. UKIB investment is needed to ensure these benefits are delivered without delay and accelerate the future expansion of the UK’s public EV charging network.

 

 

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Factsheet - Port of Tyne

Deal date: 02 June 2023

 

The Port of Tyne (the “Port”) is looking to further develop their port to capitalise on their strategic location, diversifying income streams towards new investments in green industries, such as renewables and energy transition opportunities. The Port is crucial to the local and regional economy. It is considered essential infrastructure for the region, serving as a hub for major businesses and supporting 12,000 jobs in the region and generating Gross Value Added (GVA) of £600m per year.

The UK Infrastructure Bank is providing a £50m Capex facility, which is part of a debt refinancing package of up to £100m. Our loan provides the Port with certainty of funding over 10 years and will allow it to compete effectively for upcoming tender opportunities and expansion projects. This will help the Port to continue their transformation to a clean energy industrial hub and support the deployment of offshore wind.

 

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Factsheet - Highlands Rewilding Limited

Deal date: May 2023

 

UUK Infrastructure Bank committed £12m via a bridging loan to support Highlands Rewilding Limited (HRL) to acquire Tayvallich Estate, a 1,300-hectare estate in Scotland. UKIB’s involvement is expected to help HRL build its natural capital data and research platform, which will contribute to nature restoration and biodiversity improvements. HRL’s plans for the Tayvallich Estate include the restoration of temperate rainforest and peatland, the creation of sea kelp beds, and a move to regenerative agriculture, all of which can be anticipated to yield improvements in natural capital assets – including nature-based greenhouse gas (GHG) removals. The data and learnings from the project are expected to contribute to high-integrity natural capital market development, including informing policy-setting, and increased understanding of the restoration of ecosystems across the UK. This is the Bank’s first investment in the natural capital sector and its first deal exclusively in Scotland.

 

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Factsheet - Pulse Clean Energy

Deal date: 25 May 2023

 

UK Infrastructure Bank is investing £62.5m in Pulse Clean Energy’s (PCE) proposed portfolio investment to support the building of 20 Battery Energy Storage Sites (BESS) with a combined supply capacity of approximately 930 MW, as well as one synchronous condenser. PCE is proposing a portfolio-level investment to address some of the market barriers that exist across the sector. Platform financing will help attract more risk-averse investors to the battery storage market and helps PCE have the flexibility and financial capacity to quickly reach operation compared to individual asset debt raises. The investment further supports the Government’s aim to have a flexible and decarbonised grid by 2035

 

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Factsheet - Netomnia

Deal date: March 2023

 

The UK Infrastructure Bank will invest £75 million to support the roll out of full fibre broadband to over 1.2m UK homes and businesses by Netomnia (as part of its 1.5m homes rollout plan). This project supports the Government’s ambitious target for at least 85% of UK premises to have access to gigabit broadband by 2025. UKIB investment is needed to ensure these benefits are delivered without delay. The bank’s loan facility is specifically targeted to accelerate roll-out in areas with current poor broadband connectivity and with high skills among the workforce in order to maximise the benefit from improved connectivity.

 

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Factsheet - Portsmouth Water / Havant Thicket

Deal date: 15 March 2023

 

UK Infrastructure Bank will invest £50m in Portsmouth Water’s Havant Thicket project to build the first reservoir in the UK for 30 years. This project supports both our climate change and local economic growth objectives by boosting the resilience of water supply systems for Southern England and reducing the likelihood of disruptions for local communities. This is a collaborative project between two companies, building a reservoir in a water-stressed area. UKIB investment is needed to ensure these benefits are delivered without delay. This is the Bank’s first investment in the water sector and our first in climate resilience.

 

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Factsheet - West Midlands Combined Authority: A45 Sprint Bus Deal

Deal date: 15 March 2023

 

UK Infrastructure Bank provided a £10m loan to the West Midlands Combined Authority (WMCA) in support of its Sprint A45 bus programme, which provides rapid public connections along currently congested corridors between Birmingham City Centre, Birmingham Airport and Solihull. UKIB finance supported bus priority infrastructure improvements along the route. In addition to increasing connectivity between residential and employment zones, the route will reduce CO2 emissions, meeting a statutory requirement that operators run only zero-emission (ZEB) buses from 2030. This project is part of an ambitious £1.1bn WMCA investment programme delivering enhanced transport connectivity and unlocking housing and regeneration of local areas.

 

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Factsheet - NexFibre

Deal date: December 2022

 

UK infrastructure Bank provided a loan of £250m to accelerate NexFibre’s rollout of Fibre to the Premise (FTTP) broadband to 5 million homes across the UK by 2026. NexFibre is a partnership between Virgin Media O2 owners, Liberty Global and Telefonica, and InfraVia Capital Partners, providing £1.4 billion in equity for the project. The deal also includes more than £3 billion in debt raised from further private investors. UKIB’s involvement is helping to underpin what is the second largest debt raise seen in the UK digital market to date. The Bank’s loan is targeted towards locations which to date have had poorer digital connectivity or historically lower productivity. The provision of fast and reliable broadband connections in these areas will improve productivity and deliver regional economic growth. UKIB investment was needed to ensure these benefits are delivered without delay.

 

 

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Factsheet - Octopus Sustainable Infrastructure Fund L.P

Deal date: 30 September 2022

 

UK Infrastructure Bank invested up to £100m as a cornerstone investor in Octopus Sustainable Infrastructure Fund L.P. (OSIF) which will drive early-stage investment into four of UKIB’s core sectors (clean energy, transport, digital and waste) with a focus on companies and assets that require growth capital to achieve scale. The fund will make investments that are critical to tackling climate change, promoting sustainability, resource security, and driving the UK’s regional economic growth within the Bank’s mandate. Our investment will contribute to the UK’s net zero transition through investing in technologies such as digital infrastructure like small cells and green data centres, battery storage, electric vehicle charging and waste management.

 

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Factsheet - Digital Infrastructure Investment Fund (DIIF) Follow-On Investment

Deal date: 25 August 2022

 

UK Infrastructure Bank is investing up to £100 million alongside Infracapital and other private investors to support the roll out of quality, high speed broadband to homes and business across the UK. This builds on our existing relationship with Infracapital through the Digital Infrastructure Investment Fund (DIIF), created by HM Treasury in 2017 . The investment will improve connectivity in rural areas, create direct employment opportunities and increase productivity for customers of FTTP. Companies in the initial DIIF portfolio predominantly focus in areas underserved by the larger broadband providers, across rural England and South Wales.

 

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Factsheet - NextEnergy Capital (NEC): NextPower UK ESG Fund

Deal date: 24 August 2022

 

UK Infrastructure Bank (UKIB) has committed £250 million of cornerstone investment in the NextPower UK (NPUK) ESG Fund, investing in UK new-build, utility scale, solar PV assets for a ten-year period. This Fund will focus on the deployment of subsidy-free solar power plants in the UK.

UKIB co-financed the seed assets for the Fund, Llanwern (75MW) and Strensham (40MW). This supported the initial capital deployment of the Fund. The Llanwern plant was the UK’s largest operating solar power plant when the Fund launched in Summer 2022.

 

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Factsheet - NeuConnect

Deal date: 21 July 2022

 

In July 2022, UKIB announced an investment of £150 million to support the £2.4 billion NeuConnect Electricity Interconnector project, which will build the first undersea energy link between the UK and Germany, due to come online in 2028. With a capacity of 1.4 GW, the interconnector will facilitate the transmission of low-carbon power generation from renewable energy sources (e.g., offshore wind), has the potential to reduce energy costs (estimated 1 – 2% cost reduction per GW) and increase UK energy security. This project supports the government’s target of achieving 50GW of offshore wind capacity by 2030 , whilst maintaining security of supply . UKIB investment was needed to ensure these benefits are delivered without delay.

 

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Factsheet - City Fibre

Deal date: 01 June 2022

 

UKIB provided £200m of debt to support CityFibre in reaching its target of improved digital connectivity to 8.8 million premises in 285 towns and cities across England and Scotland by 2029. Provision of fast and reliable broadband across the UK will improve productivity and deliver regional and local economic growth. The deal, which is worth £4.9 billion in total (£3.9 billion in debt plus £1 billion of uncommitted accordion), supports a programme which marks a step-change in the acceleration of full fibre broadband roll-out across the country.

 

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Factsheet - Fibrus Networks Limited

Deal date: 29 March 2022

 

UK Infrastructure Bank has lent £50 million for Fibrus Networks Limited’s delivery of high-capacity full-fibre broadband in Northern Ireland, to improve productivity and deliver regional and local economic growth. The deal will benefit properties in rural areas and market towns that have historically had poorer access to digital services than urban areas. Our finance is supporting the rollout of Fibre To The Premises (FTTP) broadband to c.220,000 premises, including both households and businesses, in regional towns and rural communities.

 

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Factsheet - Gigaclear

Deal date: 17 December 2021

 

UK Infrastructure Bank provided £100 million in senior debt to support Gigaclear’s business plan to deliver full-fibre broadband infrastructure to underserved rural communities in England from circa 200k currently to circa 500k homes by early 2024. This project supports the Government’s ambitious target for at least 85% of UK premises to have access to gigabit broadband by 2025. UKIB investment was needed to ensure these benefits are delivered without delay.

 

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Factsheet - NextEnergy Capital (NEC): Bridging Loans

Deal date: 30 November 2021

 

UK Infrastructure Bank (UKIB) provided £42.8 million of debt to Nightshade Investco Ltd., a subsidiary of NextEnergy Capital (£17.5 million towards a £35 million senior loan and £25.3 million towards a £38 million junior loan). Another lender provided the remaining finance. The purpose of the loans was to refinance an existing loan and finance the completion of two solar farms at Llanwern (75MW) and Strensham (40MW).

This loan was intended to give NextEnergy Capital time to secure investors for a new investment fund (NextPower UK ESG Fund) which will invest in solar projects in the UK. The two solar farms financed through the debt facilities were intended to form the initial assets for the fund.

 

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Factsheet - Tees Valley Combined Authority: South Bank Quay

Deal date: 24 October 2021

 

UKIB made a loan of £107m to the Tees Valley Combined Authority (TVCA) to finance the reinstatement of a 450-metre quay as part of wider brownfield industrial site regeneration including a proposed offshore wind turbine manufacturing centre. This project supports the government's target of achieving 50GW of offshore wind capacity by 2030 . UKIB investment was needed to ensure these benefits are delivered without delay. This was the bank’s first investment.

 

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