Ireland's Solar 21 raises third of funds for 22-MW UK biomass plant - report
Solar 21, an Irish renewable energy company, has secured EUR 20 million (USD 22.6m) in private investment for its 22-MW biomass project in the UK, the Irish Independent reported today.
The funding, raised since January, represents a third of the company's investment target of EUR 60 million, which it expects to achieve by September.
The firm acquired the rights to the scheme in Hull earlier in 2016. The plant, under construction since October, is a first of a pipeline of five projects that the Dublin-based company has agreed with Heat Recovery Solutions of the UK. They are expected to require a total investment of over EUR 500 million, according to the article.
Most of the investors in the Hull project have so far been from Ireland, Solar 21's head Michael Bradley was cited as saying. They can make direct cash or pension investments.