Burges Salmon advises Bio Capital on refinancing of UK anaerobic digestion portfolio

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Burges Salmon has advised renewable energy investment platform Bio Capital on an £85m debt financing of its portfolio of UK anaerobic digestion (AD) assets across England, Scotland and Northern Ireland.

The syndicated financing was provided by NatWest, Allied Irish Banks and Banco Sabadell.

Bio Capital was founded in 2018 by Helios Energy Investments and Equitix as a platform for investments in the AD sector, with its portfolio including gas to grid and electricity generation plants that utilise food waste and agricultural feedstock.

The AD sector plays a significant role in the wider decarbonisation of the UK’s energy supply chain, both as part of the government’s Net Zero obligations and its post-COVID Green Recovery commitments.

Burges Salmon partners Stuart McMillan (Project Finance) and Nick Churchward (Energy) led the cross-firm, multi-jurisdictional team advising on the refinancing, lender-facing due diligence and corporate reorganisation.

Peter Sharpe, CEO of Bio Capital, said: “Bio Capital is delighted to have closed this refinancing with the excellent support of the Burges Salmon and Elgar Middleton teams. This agreement will enable Bio Capital to continue its growth in the sector and to reinforce its commitment to renewable energy and a Net Zero economy.”

Elgar Middleton LLP acted as debt advisor for the transaction.