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- 2006
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The Ventus group of funds announces investment in Craig Wind Farm Limited
The Ventus group of funds have invested £2.7 million in Craig Wind Farm Limited. The proceeds of the investment will be used to construct a 10 megawatt wind farm on Craig Farm, an active sheep farm in Dumfriesshire, Scotland. Electricity generated from the site is expected to be equivalent to that consumed by approximately 5,400 homes, and the project will contribute to reductions in CO2 emissions of 420,000 tonnes over a 20 year project lifetime.
Craig Wind Farm Limited is the latest investment completed by the Ventus group of funds. The Ventus funds are managed by Climate Change Capital. The Ventus funds will be providing equity and mezzanine finance, whilst Alliance and Leicester will provide debt finance.
The project itself consists of four Nordex N80 wind turbines on 60 metre towers with rotor diameters of 80 metres. Construction work at the site will commence in August 2006, with electricity generation projected to start in summer 2007. Steve Read from Climate Change Capital said, “We are delighted to have completed our investment in Craig Wind Farm Limited and would also like to express our thanks to all parties involved in the deal for their efforts in completing the transaction.”
Neil Ewart, landowner at Craig Farm and joint owner of Craig Wind Farm Limited, said, “I am delighted to have reached the point were the construction of this wind farm has become a reality. After the planning process took 15 years, it was very important to be able to work with investment partners who could manage the negotiation of the key contracts and arrange competitively-priced finance as part of an overall package. Climate Change Capital has been instrumental in making this wind farm happen.”
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Enquiries
For further information relating to the Ventus funds and Climate Change Capital or to discuss potential investment opportunities please contact:
Climate Change Capital
Charles Conner Mob: 07970 485 025 cconner@c-c-capital.com
Seve Read Mob: 07989 172 963 sread@c-c-capital.com
Notes to Editors:
About Climate Change Capital Ltd.
Climate Change Capital Ltd. (“CCC”) www.climatechangecapital.com is an investment manager and advisor specialising in the opportunities created by the transition to the low carbon economy. Its activities aim to make the world’s environment cleaner while delivering attractive financial returns.
- Fund Management: Develops and manages funds that invest in companies, projects and technologies that provide products or services facilitating climate change mitigation or adaptation. CCC has over US$1.6 billion under management across the following alternative asset classes: Infrastructure and Carbon, Private Equity, Listed Equities, Real Estate, Land and Water.
- Advisory: Provides financial, strategic and policy advice to energy-intensive industries, financial institutions, clean technology companies and governments.
Through the combined talents of investment professionals, market specialists, and thought leaders we reconcile economic gain with environmental benefits without compromising implementation, discipline, client focus and accountability.We call this Creating Wealth Worth Having®.
Climate Change Capital Limited is authorised and regulated by the Financial Services Authority.
The Ventus group of funds
The Ventus funds are a group of three Venture Capital Trusts: Ventus VCT plc, Ventus 2 VCT plc and Ventus 3 VCT plc. The three funds have aggregate capital in excess of £37 million. The investment manager of each Ventus fund is Climate Change Capital.
Craig Wind Farm Limited
Craig Wind Farm Limited owns the Craig Farm turbine development project. The shareholders of Craig Wind Farm Limited are Ventus VCT plc, Ventus 2 VCT plc, Ventus 3 VCT plc and the Ewart family.