9th Sep 2021 14:40
VH Global Sustainable Energy Opportunities PLC - London-based energy infrastructure investor - Commits GBP78 million to two carbon capture and re-use projects in the UK. Says its advisor, Victory Hill Capital Advisors LLP, will partner with gas-fired power plant developer Landmark Power Holdings Ltd, who owns both carbon capture plant designs. Says the assets have a total capacity of 45 megawatts. Both are at the "ready-to-build stage, with planning permission and commercialisation plans in place", the company notes. Expects construction to begin at the Nottinghamshire-based plant in the fourth quarter of 2021 and in the second quarter of 2022 at the County Durham-based plant.
"Once operational, the plants will be contracted under long term Power Purchase Agreements...with well-known energy companies for the power output...Together, these revenue arrangements will provide the plants with downside risk protection and visibility of revenues for the medium-to-long term. The unlevered returns are expected to exceed the Company's target return of 10% and target annual dividend yield of 5%," the company says.
The company notes that it has now spent 92% of the net proceeds raised in its initial public offering.
Current stock price: 102.40 pence
Year-to-date change: up 1.4% since February 2
By Scarlett Butler; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Vh Global Sust.