Elgin Energy completes GBP-25m fundraise for solar-plus-storage

Solar park in Somerset, England. Image by: Elgin Energy.

November 25 (Renewables Now) - UK solar and storage developer Elgin Energy said on Thursday it has raised some GBP 25 million (USD 33.3m/EUR 29.7m) in an oversubscribed fundraising through boutique corporate finance firm Focus Capital partners.

The company plans to use the proceeds to finance its medium-term growth strategy of having more than 5 GW of solar-plus-storage facilities across its core markets by 2025.

“This very successful and oversubscribed fundraise will allow us to scale our origination & development programme,” said CEO Ronan Kilduff.

In August, Elgin Energy announced arranging debt from German private bank Berenberg to finance the late-stage development of 1.36 GWp of solar projects in the UK and Ireland.

(GBP 1.0 = USD 1.332/EUR 1.188)

More stories to explore
Share this story
Newsletter
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\