It was announced today that Irish renewable energy firm Solar 21 has acquired the project rights to build a 22MW biomass power plant near Hull (UK).
The renewable energy experts have subsequently opened their first round of fundraising for potential investors – and aim to secure €60 million for the project, which has been under construction since October last year.
In recent years, Hull has become the epicentre of renewable energy activity in the UK, with many major industry players establishing a presence there. This is the first of 5 pipeline projects that will be delivered in partnership with HRS (Heat Recovery Solutions), a supplier of energy recovery systems and their associate company - CF Struthers – a specialist fabricator that will manufacture the plant.
The five projects will represent development costs in excess of €500 million, with completion values of well over €1 billion.
CEO of Solar 21, Michael Bradley says, "This is a perfect opportunity for conscientious investors to participate in an ethical company while securing strong returns."
Source: www.businessworld.ie