Iona, IGas partner to establish UK solar projects

• Duo are targeting a number of sites that will each have capacities of as much as 50MW

Iona Capital has actually gone into the UK utility-scale solar market in a collaboration with IGas, kicking off with an up-to 40MW project in southerly England.

The Iona and also IGas collaboration has ambitions to create a number of ground-mounted solar projects each with capabilities of approximately 50MW.

Iona will supply non-recourse project money and will certainly draw on its project growth as well as investment experience in various other parts of the UK renewable energy market, including anaerobic digestion and also biomass systems.

IGas has solid landowner connections, because of its history of onshore power operations in the UK.

Throughout the advancement stage, prices will be shared as well as, throughout the project lifecycle, IGas and also Iona will each own 50% of the projects.

Iona Capital supervisor Nick Ross said: "Offered our focus on eco-friendly and environmental financial investments in the UK over several years, the PV solar industry is a natural area for us.

" We are extremely delighted to enter into this collaboration with IGas, given their comprehensive experience of power project advancement in the UK.

" Eventually, we desire to develop similar development/finance collaborations with various other power business energetic in UK solar."