IGas and Iona Capital Partnered to Develop Solar Energy Projects in UK

Power & Energy

The companies IGas and Iona Capital has now entered into a utility-scale solar energy market partnership in the United Kingdom for the purpose of kicking off with a solar energy project of around 40-megawatt in the region of southern United Kingdom.

This partnership between the IGas and Iona Capital is generally having the ambitions for developing many of the ground-mounted solar energy projects each with the capacities of around 50 -megawatt. The company ‘Iona Capital’ is going to provide the non-recourse project finance, and it is also going to draw on the company’s project development and investment experience in several other parts of the renewable energy sector in the United Kingdom, that has also been including the biomass schemes and anaerobic digestion.

The company ‘IGas’ is also having strong landowner relationships because of the company’s history of the onshore energy operations in the United Kingdom, and during the development phase, the costs are going to be shared and both the companies will be owning 50 percent of the solar energy projects throughout the lifecycle of the project.

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Nick Ross, director of Iona Capital said, given their focus on the renewable and the environmental investments in the United Kingdom for over many year, the photovoltaic solar energy sector has been a natural area for the company, and he also said that, they have been very pleased for entering into this partnership with the company ‘IGas’, given the existence of the company’s experience of the development of the solar energy projects in the United Kingdom.

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