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

• UK solar and also storage programmer Elgin Energy said on Thursday it has elevated some GBP 25 million (USD 33.3 m/EUR 29.7 m) in an oversubscribed fundraising via boutique business money company Focus Capital companions.

The company intends to make use of the proceeds to fund its medium-term development method of having more than 5 GW of solar-plus-storage facilities throughout its core markets by 2025.

"This very successful and oversubscribed fundraise will certainly permit us to scale our origination & advancement programme," stated chief executive officer Ronan Kilduff.

In August, Elgin Energy revealed organizing financial debt from German private financial institution Berenberg to finance the late-stage growth of 1.36 GWp of solar projects in the UK and also Ireland.