(Bloomberg) — Infinis Energy Plc, a U.K.-based clean-energy developer backed by Guy Hands’s private-equity firm,
signed a deal to supply Lloyds Banking Group Plc with renewable
power from landfill gas sites.
Lloyds will buy about 113,800 megawatt-hours of clean
energy from Infinis every year for 10 years. That’s enough to
power about 1,700 of its branches, Infinis said in an e-mailed
statement. No terms were disclosed.
“Corporations are becoming increasingly sophisticated in
their understanding of the energy market and how they can
interact with it,” Eric Machiels, chief executive of Infinis,
said in the statement. “There is tremendous scope to expand and
deepen the use of this particular power-purchase agreement
model, which provides Infinis with guaranteed and stable
revenues despite the volatile power markets.”
Infinis on Feb. 16 said it’s set to deliver as much as 150
megawatts of onshore wind power by 2017. Hands’s Terra Firma
Capital Partners Ltd. in December said it’s considering selling
its 68.6 percent stake in Infinis.
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Louise Downing in London at
To contact the editors responsible for this story:
Reed Landberg at