Future Biogas, a portfolio company of 3i Infrastructure, has acquired the remaining 49% stake in a portfolio of six UK gas-to-grid anaerobic digestion plants from Foresight Environmental Infrastructure (FGEN) for £104m, the two listed funds said on 26 October 2026.
Why Future Biogas (backed by 3i Infrastructure plc) is buying Remaining 49% of a portfolio of six gas-to-grid anaerobic digestion plants (from Foresight Environmental Infrastructure)
3i Infrastructure said full ownership would let Future Biogas accelerate identified investment opportunities, including capacity expansions and operational enhancements, and simplify the ownership structure. It said Future Biogas had delivered about 21% EBITDA growth across the plants since taking its majority stake in 2024.
“We are very pleased to be acquiring full ownership of the six plants, which we know well having developed and operated them over many years.”
Deal terms and financing
FGEN said the £104.0m consideration was a 7.5% premium to the stake's 30 June 2026 valuation and a 38% increase in its valuation since the initial sell-down. FGEN bought the portfolio between 2017 and 2019 for £100.4m and sold 51% to Future Biogas in August 2024 for £68.1m. 3i Infrastructure said the price was consistent with its September 2026 valuation expectations and that most of its equity funding should be returned before its March 2027 year-end.
Market context
FGEN will use the proceeds to substantially reduce drawings under its revolving credit facility. It retains five further anaerobic digestion facilities valued at £76.9m that are not part of the deal.
