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InfraRed Capital to invest in Swansea Bay Tidal

By: Lewis Holdsworth 05/02/2015 InfraRed

General Tidal

InfraRed has today announced its agreement to invest in the £1bn Swansea Bay Tidal Lagoon, the world-leading renewable energy development which is set to transform the economy of the Swansea Bay region. The investment from InfraRed equals that of Prudential and confirms full equity funding from two British institutions.

• InfraRed Capital Partners (“InfraRed”) becomes the final institutional equity investor in £1bn tidal power project
• Commitment ensures project now has full equity funding needed to proceed

The project will generate c.500GWh of electricity every year for 120 years, enough to provide nearly all of the domestic electricity for the Swansea Bay region, comprising the city and county of Swansea and Neath Port Talbot. It will help the UK meet its carbon reduction targets by saving more than 236,000 tonnes of CO2 each year; and establishes a scalable blueprint for a total of six UK lagoons that could between them provide 8% of the UK’s electricity, also for 120 years.

The tidal power station is scheduled to reach financial close in the summer with construction scheduled to begin immediately after, creating almost 2,000 jobs.

InfraRed, the leading global investment manager focused on infrastructure and real estate, will make the investment from existing funds. InfraRed currently manages US$8bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.

If you wish to visit the Swansea Bay Project on our website, click HERE.

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InfraRed Capital to invest in Swansea Bay Tidal

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