Investment Update - Vigor Renewables Limited) (0797A)
26 Januar 2011 - 8:00AM
UK Regulatory
TIDMLCA
RNS Number : 0797A
Low Carbon Accelerator Limited
26 January 2011
26 January 2011
Investment Update: Vigor Renewables Limited
Low Carbon Accelerator Limited ("LCA" or "the Company")
announces that it has invested a further GBP200,000 in Vigor
Renewables Ltd ("Vigor") in the form of an unsecured loan. Vigor is
a project development company formed to take advantage of UK
feed-in tariffs. It aims to partner with land-owners, as well as
commercial property owners and managers, to build, own and operate
wind and solar power generating assets on sites across the UK.
Vigor has now completed the financing of three projects: a 500kW
rooftop mounted solar photovoltaic ("pv") system and two 90kW
windcroft projects. These are expected to be commissioned and
generating power before April 2011. In addition, Vigor has a
qualified pipeline of over 50 further projects, including
agricultural plots for small-scale wind and industrial sites for
solar PV installations both roof and ground mounted.
The additional funds are being provided to expand and accelerate
the current pipeline in development projects over the next 12
months.
Dr Steve Mahon, Chief Investment Officer for Low Carbon
Investors, the investment manager for Low Carbon Accelerator, said:
"Vigor has made good progress in its first year. Its strategy has
been to target projects that can be developed in the near term, and
as such generate income quickly and minimise exposure to Government
risk associated with future changes to the feed-in tariff regime.
Vigor's development of both wind and solar assets provides a
welcome diversification of risk and the partnership with Proven
Energy has been a real differentiator for Vigor. This successful
working relationship is expected to be highly beneficial to both of
these LCA portfolio companies and validates LCA's approach to
invest in the forward integration of the value chain."
About Vigor Renewables Ltd: WWW.VIGORRENEWABLES.CO.UK
About Low Carbon Accelerator: www.lowcarbon.gg
Low Carbon Accelerator Limited is a closed ended investment
company created to invest in a portfolio of fast-growing low carbon
businesses. The Company listed on the AIM Market of the London
Stock Exchange on 11 October 2006, raising GBP44.5 million. On 26
June 2009, the Company announced that it had raised a further GBP10
million, net of expenses, following the successful placing of a
further 41.6 million shares.
The Company's investment objective is to provide shareholders
with an attractive return on their investment primarily through
significant minority (predominately 25% and above) holdings in a
diverse portfolio of unquoted private companies providing low
carbon products and services.
The Company invests principally in companies which provide low
carbon products and services across the following sectors:
-- Energy efficiency (reductions in energy inputs at source,
improved conversion and reductions at point of use)
-- Energy generation (sustainable and clean energy, micro and
distributed generation)
The Company's investment strategy is to target trading
businesses with patentable technologies and products with a clear
commercial application and the opportunity to gain a large market
share of a new or expanding market. The Company focuses on
businesses with experienced management teams who have developed
commercially viable products providing easily adoptable solutions
which deliver immediate reductions in carbon dioxide emissions.
Enquiries:
Low Carbon Investors Steve Mahon, CIO Tel: +44 (0)20 7631 2630
Limited Andrew Affleck, Chairman
Grant Thornton Corporate Philip Secrett, Tel: +44 (0) 20 7383 5100
Finance Colin Aaronson
Redleaf Polhill Alicia Jennings Tel: +44 (0) 20 7566 6741
This information is provided by RNS
The company news service from the London Stock Exchange
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