Elgin finds backer for 1.4 GW solar surge

• Berenberg Green Energy Junior Debt Fund III to finance 50 separate solar projects throughout Ireland and the UK

Berenberg Green Energy Junior Debt Fund III has actually participated in an arrangement to fund the late-stage growth of Elgin Energy's 1360MW solar portfolio.

The Fund will certainly finance around 50 different solar projects throughout Ireland and the UK, as soon as the late-stage project development phase is reached.

The initial projects from the portfolio are expected to be prepared to construct by the 4th quarter of 2022.

The projects will be developed to energisation by Elgin Energy via its recognized collaborations with 3rd parties.

To day, Elgin has actually supplied a 98% success price via preparation (60 out of 61 projects) throughout all its markets and has the passion to provide over of 5GW by 2025.

Berenberg head of facilities & energy Torsten Heidemann claimed: "We are pleased to partner with Elgin Energy in the advancement of this substantial project pipeline.

" The collaboration broadens the reach of our Green Energy Junior Debt Fund with projects in Ireland and the UK and provides capitalists the opportunity to have a straight and favorable influence on the release of renewables to secure decarbonisation objectives.

" Elgin has a strong track record of performance in the market and we anticipate developing our relationship right into the future."

Elgin Energy handling director Ronan Kilduff added: "This is a step modification for the Elgin Energy business in regards to the quantum of our advancement resources and will accelerate the implementation of a considerable portion of our portfolio of utility scale solar projects.

" Elgin Energy has a total portfolio of projects in late-stage development completing over 3.7 GW throughout 3 crucial markets of UK, Australia and Ireland.

" We are thrilled to be collaborating with the Berenberg team in whom our company believe we have actually found a solid long term tactical companion and we expect working with them in future."