Glennmont Partners Completes Refinancing of Sleaford Biomass Plant for £150m
Glennmont Partners has successfully completed the refinancing of the Sleaford Renewable Energy Plant on behalf of its dedicated clean energy fund, Glennmont Clean Energy Fund Europe I, as part of a programme of realisations of value from the Fund. Glennmont Partners is one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure. Glennmont raises long-term capital to invest in alternative power generation projects including wind farms, biomass power stations, solar parks and small-scale hydro power plants. The carefully selected, risk managed investments deliver sustained performance and predictable returns over periods of 10 years or more.
Sleaford REP is a 40MWe straw-fired biomass plant located in Lincolnshire, UK. The plant has been in operation since 2014 and is being operated by Burmeister & Wain Scandinavian Contractor (BWSC). The plant benefits from 2 ROCs under the UK renewable energy regime as "good quality CHP plant", providing free heat to the local community under long term offtake contracts. The proceeds from the refinancing repaid a project financing, and contributed to directly creating value for investors.
The £150m financing has been placed to a large European institutional investor and is the largest institutional-only financing in the UK biomass sector to date. Deutsche Bank acted as sole lead Arranger, Agent, Security Trustee and Account Bank for the transaction.
Joost Bergsma, CEO of Glennmont Partners, said: “Glennmont is delighted to be completing one of the largest biomass transactions of 2017 for £150m. This transaction further highlights that biomass is a highly efficient renewable energy technology capable of attracting significant amounts of long term, competitive institutional capital. The refinancing complements our strategy of building portfolios of renewable projects diversified by both geography and technology in order to provide predictable returns to investors. The energy market is as diverse as it has ever been with new technologies and new market structures offering investors a wide range of opportunities to invest in clean energy.”
Michael Volkermann, Head of Infrastructure & Energy at Deutsche Bank said ““We are delighted to build on our close relationship with Glennmont Partners by together delivering this pathfinder refinancing transaction for the UK biomass industry and placing it with a leading European infrastructure debt investor.”
Notes to Editors
1. Glennmont Partners
Glennmont Partners invests in construction and operational stage clean energy infrastructure assets in on-shore wind, solar photovoltaic, biomass and small-scale hydro power generation in Europe. The Fund is managed by a dedicated, international and highly focused management team, drawn from a range of backgrounds within the renewable energy and financial fields. The Fund is investing in a diversified portfolio of high quality assets in Western European economies, enabling the investment team to manage risk while maximising returns. http://www.glennmont.com/
For further information please contact:
Fran O’Leary at Lodestone:
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Citi Private Bank Congratulates Fernando Alonso on the 24 Hours of Le Mans Win18.6.2018 17:01 | Tiedote
Citi Private Bank ardently congratulates Fernando Alonso for his impressive win at The 24 Hours of Le Mans this past weekend. Mr. Alonso, who is also a two time Formula One World Champion, most recently competed and won the Six Hours of Spa-Francorchamps in May. In January he debuted at the Rolex 24 at Daytona. Previously he participated in the Indianapolis 500 in May of 2017. He was sponsored by Citi Private Bank for all four races. Alongside the Indianapolis 500 and the Monaco Grand Prix, Le Mans makes up one third of ‘the Triple Crown of Motor Racing’. Having already won Monaco twice, Mr. Alonso is on a quest to become only the second driver in history to complete the Triple Crown. “Fernando drove one the most thrilling races at Le Mans that I have ever seen. His stunning night time drive will likely go down as one of the greatest victories in motorsport’s history,” said Peter Clive Charrington, Global Head of Citi Private Bank. “Fernando possesses an unrelenting drive toward excell
Inteva Products Receives Top Innovation Award for Revolutionary Stitching Process18.6.2018 16:31 | Tiedote
Inteva Products, LLC, a leading global Tier One automotive supplier of engineered components and systems, received the top prize in the 2018 Innovation Awards presented by the European Association of Automotive Suppliers (CLEPA) at The Hague, Netherlands, on June 13. Inteva was recognized for its new real-time scanning process for the robotic stitching of automotive interiors. This innovative technology will be used on instrument panels for the 2019 Chevrolet Silverado and GMC Sierra pickup trucks. The new process enables “live” scanning and immediate adjustments to the program path of robotic stitching equipment as a component is being stitched. This approach aligns leading-edge advances in the use of lasers in automotive manufacturing with Inteva’s unique robotic stitching technologies. The advancement reduces the average cycle time of a stitched surface by approximately 20-30%. The 2018 CLEPA Innovation Awards, organized in cooperation with Deloitte, celebrate automotive excellence
P&G Advances Systemic Change for Gender Equality in Advertising at 2018 Cannes Lions Festival of Creativity18.6.2018 15:25 | Tiedote
The Procter & Gamble Company (NYSE: PG) today advanced its commitment to gender equality through a series of new actions, commitments and partnerships to increase diversity throughout the creative supply chain, leading to more accurate and positive portrayals of women in advertising and media, and driving growth and social good. Women and girls are inaccurately or negatively portrayed in 29 percent of ads and media programs*, and women continue to be underrepresented behind the camera: only 32 percent of Chief Marketing Officers, 33 percent of Chief Creative Officers and a mere 10 percent of Commercial Directors are women. These issues persist despite evidence that gender-equal ads perform 10 percent higher in trust and 26 percent higher in sales growth*. To address these issues, P&G has called for an aspiration to achieve 100% accurate and positive portrayals of women in advertising and media, supported by equal representation of women and men in the creative supply chain. P&G is lead
Norsk Titanium Marks Milestone in U.S. Production18.6.2018 15:00 | Tiedote
Norsk Titanium (NTi), the world’s first FAA-approved supplier of aerospace-grade, additive manufactured, structural titanium components, announced today a major milestone in qualified production. NTi’s Plattsburgh, New York Development and Qualification Center (PDQC) site was officially added to Boeing’s Qualified Producers List (QPL) on May 1 and initiated qualified production on May 15 by manufacturing its first part under the Boeing contract. This milestone is a culmination of recent company successes including certification under AS9100D and the October 2017 dedication of PDQC by New York Governor Andrew Cuomo. “We could not be prouder of our Plattsburgh, New York production operations as they put another stake in the ground for the continued success of Norsk Titanium and the state of New York,” said NTi’s Chief Operating Officer Tamara Morytko. “Receiving this qualification from Boeing, now qualifying two NTi sites for production across the globe, is a true vote of confidence in o
Avedro Announces Enrollment of First Patient in U.S. Pivotal Phase 3 Epi-on Corneal Cross-Linking Trial for Progressive Keratoconus18.6.2018 15:00 | Tiedote
Avedro, Inc., an ophthalmic pharmaceutical and medical device company and the world leader in corneal remodeling, today announced that it has begun enrolling patients in a pivotal Phase 3 clinical trial to evaluate the safety and efficacy of an epithelium-on (epi-on) corneal collagen cross-linking procedure to treat patients with progressive keratoconus. Keratoconus is a non-inflammatory eye condition in which the typically round dome-shaped cornea progressively thins and weakens and is the leading cause of penetrating keratoplasty (corneal transplant) in the United States1. The Phase 3 clinical trial, ACP-KXL-308, is a multicenter, randomized, controlled study of a novel corneal cross-linking procedure of 275 patients with progressive keratoconus across approximately 20 sites in the United States. As is typical for U.S. Food and Drug Administration (FDA) drug trials, investigational treatments are provided at no cost to participating patients. “As a practitioner who has treated many p
LG Chem Hosts Global Innovation Contest 2018 (GIC 2018)"Finding Innovations to Change the World"18.6.2018 14:00 | Tiedote
LG Chem (KRX: 051910) is exploring innovative technologies that will change the world. LG Chem announced that it would hold a Global Innovation Contest (GIC) for leading universities and research institutions around the world. This is the first time that a Korean chemical company is conducting technology contests for the entire world. From June 18th to September 30th, 2018, LG Chem will accept innovative technology ideas in five promising business areas: Energy, Environment, Functional materials, Bio technology and Platform technology. Global scholars and researchers who are interested in developing the next generation’s innovative technology and industry-academia collaboration research are welcomed to participate and submit the technical proposal through the official website (www.rnd.lgchem.com/global/gic). LG Chem will select internal experts and selection committees to evaluate the proposals considering technology innovation, marketability, and price competitiveness. Selected assign
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme