InfraRed Final Equity Investor in Tidal Lagoon Swansea Bay
InfraRed has been named as the final institutional equity investor in Tidal Lagoon Swansea Bay.
The investment, equaling that of Prudential last October, confirms full equity funding from two British institutions.
InfraRed will make the investment from existing funds, the company informed.
Werner von Guionneau, Chief Executive, InfraRed Capital Partners, said:
“We are proud to be playing a key role in securing the future of this world-leading renewable energy project. The power station is unique in that it not only leverages the estuary’s second highest tidal range in the world but it will also make a material contribution towards both the local economy in South Wales and the long term stability of sustainable energy supply in the UK.”
Bryn Jones, Head of Development Infrastructure, InfraRed Capital Partners, said:
“InfraRed has been at the forefront of developing leading edge infrastructure and renewable energy for nearly 20 years. Swansea Bay continues that tradition of development in a market – the UK – which leads the world in infrastructure development.”
Mark Shorrock, Chief Executive, Tidal Lagoon Power Ltd, said:
“The Swansea Bay Tidal Lagoon provides a scalable blueprint for a UK-led global industry that delivers true value to the nation. Tidal lagoons will employ British industry to harness a British natural resource and return profits to British institutions. InfraRed is now a key partner in delivering this vision and we welcome them on board.”