EIB to provides €10 million loan for MeyGen Phase 1B
The European Investment Bank (EIB) is considering to grant Atlantis Resources Ltd a €10 million (US$10.64 million) loan for the 6 MW MeyGen Phase 1B tidal stream project in Scotland.
The EIB has started its appraisal of Atlantis’ loan request on March 8. The so-called Project Stroma calls for the installation and operation of four small-scale tidal turbines in the Inner Sound of the Pentland Firth and is the second phase of the 398-MW Meygen tidal power project. The total cost of the project is estimated at €57 million (US$60.7 million).
As we reported in December, Atlantis confirmed its investment decision to proceed with the development after a competitive tender process for the project construction contracts carried out by Stroma Tidal Power Limited (STPL). In January, the project secured €20.1 million (US$21.4 million) in grant funding from the European Commission's (EC) NER300 fund. Construction will begin this year and first power is expected in 2018.
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March 14, 2017
Actis hits US$2.75bn hardcap for fourth energy fund
Actis has announced that it has reached final closing on its fourth energy fund Actis Energy 4 (AE4) with commitments hitting a hardcap at US$2.75billion.
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March 08, 2017
Iona Capital backs the Northern Powerhouse with a portfolio of renewable energy investments
Iona Capital, through its North West Environmental Infrastructure Fund and through Iona Environmental Infrastructure Funds 1 and 2, has committed £130 million (US$158 million) of investment into new and existing environmental infrastructure projects in the UK’s Northern Powerhouse.
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March 06, 2017
MIDIS provides 140 million CPI-linked long-term infrastructure debt for Banks Renewables
Macquarie Infrastructure Debt Investment Solutions (MIDIS) has structured new long-term debt facilities for Durham-headquartered Banks Renewables, the renewable energy division of the Banks Group, delivering over £140 million (US$172 million) of infrastructure project financing debt on behalf of its investors.
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October 10, 2016
Six bidders shortlisted for Dudgeon, Rampion and Race Bank offshore wind links
Ofgem has announced shortlists of bidders competing to own and operate transmission links to the Dudgeon, Rampion and Race Bank wind farms off the coasts of Norfolk and Sussex (UK), totalling 1,375 MW. The following 6 bidders have been shortlisted.
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March 02, 2017
Triodos finances solar farm in Creswell
Triodos Bank has provided over £3 million (US$3.7 million) in project finance to Danish Better Energy for a ground-mounted solar farm in Creswell, Derbyshire.
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