01 四月 2006

Ventus VCT plc announces investment in Fenpower Ltd.

Fenpower Ltd to construct 6MW Ransonmoor windfarm on actively farmed arable land in the Cambridgeshire fenlands

Electricity generated is equivalent to that consumed by approximately 3, 350 homes and the project will contribute to savings of CO2 emissions of 271, 200 tonnes over a 20 year project lifetime

Ventus VCT plc are pleased to announce that financing is complete and contracts secured for the construction of Fenpower Ltd’s 6MW Ransonmoor windfarm on actively farmed arable land in the Cambridgeshire fenlands.

The project itself consists of three Gamesa G80 wind turbines on 67 metre towers with a rotor diameter of 80 metres. The electricity to be generated is equivalent to that consumed by approximately 3,350 homes and the project will contribute savings in CO2 emissions of 271,200 tonnes over a 20 year project lifetime.

Work on the £6m. project will commence this summer with electricity generation starting in Spring 2007. EcoGen has undertaken the development on behalf of Fenpower Limited, Dean and Dyball are the main civil contractors and Econnect the electrical sub-contractors for the project.

Steve Read from Climate Change Capital said “We are delighted to be working with EcoGen and Fenpower on the Ransonmoor scheme. We would also like to express our thanks to all parties involved in the deal for their efforts in completing the transaction.” 

Tim Kirby of Ecogen commented that “EcoGen hope that Ransonmoor will provide a model for other landowner and community led projects.”

Fenpower Ltd is the latest investment completed by Ventus VCT plc. The Ventus fund is managed by Climate Change Capital. Ventus will be providing equity and mezzanine finance, whilst Alliance and Leicester will provide debt finance.

Duncan Boughton, landowner at Ransonmoor Farm said: “I was pleased that my family were able to work with EcoGen and Ventuson this pioneering way of wind farm development. As a hard pressed arable farmer the chance to develop the wind farm will provide much needed revenue for a generation and proves there is a real opportunity for farmers to become involved and increase their returns other than by purely renting out land to the large power generators. From now onwards we have a new diversified crop; we shall be farming the wind.”

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Notes to Editors:

Ventus VCT plc

Ventus VCT plc is a £15 million UK investment trust focused on investing in companies developing and constructing small UK wind farms of two to twelve megawatts, typically consisting of between one and six wind turbines. The fund was raised in April 2005 to address the funding gap that exists at the smaller end of the UK market. Ventus VCT delivers a straight forward, comprehensive and cost effective financing solution, supplying equity, debt and a highly competitive PPA. Ventus works in partnership with developers to provide full technical support, and is able to be highly flexible in structuring transactions.

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.

EcoGen

EcoGen have over fifteen years experience in the development of renewable energy projects, having played a major role in some of the UK’s first windfarms. EcoGen have pioneered new approaches in windfarm development with the key aims of supporting local land owners and community groups who wish to develop renewable energy generation and of maximising local benefits from such generation.

For more information see www.ecogen.co.uk or contact Tim Kirby 07774 606646

 

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