Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Kedco plc       IE00B3DKXJ73

KEDCO PLC

SummaryNewsCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector news

Kedco plc : Heads of Terms Signed for Funding Enfield

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/04/2013 | 04:42am EDT
Press release 3 June 2013 Kedco plc

("Kedco" or the "Company")

Heads of terms signed for funding of Enfield Biomass CHP project

Kedco plc, (AIM:KED) the renewable energy developer and operator focusing on the production of clean energy in the UK and Ireland, is pleased to announce the appointment of the Foresight Group ("Foresight") as the preferred funding partner in relation to its 12MW Enfield Biomass CHP project ("the Project") located in North London.
Kedco has signed a non-binding heads of terms with Foresight for the provision of debt and equity facilities which will part finance the construction and operation of the Project. The heads of terms are subject to completion of due diligence, legal documentation and final investment committee approval. As part of the financing structure a co-investor will be required to invest alongside Foresight funds. Under the heads of terms Kedco will retain a substantial equity participation in the Project in line with the Company's stated strategy and will not be required to invest any further funds on financial close.
It is intended that Foresight will part fund the Project through its existing funds under management, which includes the Foresight Environmental Fund ("FEF"). The FEF was corner stoned by the London Green Fund (LGF), and has attracted investment from a number of private sector investors. The FEF is part of London's drive to encourage investment into waste and energy efficiency infrastructure to create economic growth and jobs.
In addition, the Company announces the appointment of Fichtner Consulting Engineers Limited as technical advisers to the Project. Fichtner will be responsible for managing the tender process for the Engineering, Procurement and Construction ("EPC") contract as well as negotiations with the heat offtakers. The tender process for the EPC contract has already commenced and discussions with contractors are on-going.
The company will now move towards finalising and executing the various project and investor documents with a view to reaching financial close and starting construction in Q3 2013.
Gerry Madden, CEO of Kedco, commented: "The Board is delighted to have appointed Foresight as our preferred funding partner for the Enfield Biomass CHP project. Foresight has been actively involved in the funding of Biomass CHP projects in the UK and we look forward to working with them to achieve financial close in the near future."

- Ends - For further information:

Kedco plc

+353 (0)21 483 9104

Gerry Madden, CEO

Shore Capital - Nomad & Broker

+44 (0)20 7408 4090

Pascal Keane / Anita Ghanekar

Abchurch Communications - Financial PR

+44 (0)20 7398 7707

Janine Brewis / Joanne Shears / Shabnam Bashir

About Kedco plc

Kedco Group is a renewable energy portfolio developer and operator whose business strategy is to identify, develop, build, own and operate renewable energy electricity and heat generation plants in the UK and Ireland.
The Group possesses significant knowledge of renewable energy markets, clean technologies, fuel sources, project development, project finance and project delivery.
Kedco was admitted to trading on AIM, a market operated by the London Stock
Exchange, in October 2008 (AIM: KED).
www.kedco.com

About Foresight Group

Foresight Group is an independent specialist private equity, infrastructure and environmental investor, which focuses primarily on investments in unquoted UK and
European companies or projects. Foresight has in excess of £650 million assets under management across a number of funds, including Institutional Limited Partnerships, Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCTs). Foresight has had a strategic focus on the waste and environmental sector since 2006 and in that time has assembled one of the most experienced technical and commercial teams in the market. Foresight manages the £60 million Foresight Environmental Fund ("FEF"), targeting waste infrastructure projects in Greater London and the £50 million UK Waste Resources and Energy Investments Fund ("UKWREI") on behalf of the UK Government's Green Investment Bank targeting waste infrastructure projects across the UK.
www.foresightgroup.eu

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on KEDCO PLC
06/04EQTEC : Investment in North Fork Community Power
PU
06/03EQTEC : Loan Facility drawdown
PU
05/16EQTEC : Issue of Shares to a Service Provider
PU
04/09EQTEC : Operational and Project Update
PU
03/20EQTEC : Statement re EBIOSS Agreement with Urbaser
PU
01/15EQTEC : Contract with Phoenix Energy
PU
01/11EQTEC : Amendment to Loan Facility
PU
2018EQTEC : Nomad Status - Update
PU
2018EQTEC : Financing facility drawdown
PU
2018EQTEC : Notice of 2018 AGM
PU
More news
Chart KEDCO PLC
Duration : Period :
Kedco plc Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Ian Joseph Price Chief Executive Officer
Ian Phares Pearson Non-Executive Chairman
Michael Gerard Madden Finance Director & Director
José Oscar Leiva Méndez Non-Executive Director
Thomas Quigley Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
KEDCO PLC0
VESTAS WIND SYSTEMS19.69%16 330
SIEMENS GAMESA RENEWABLE ENERGY45.72%10 911
XINJIANG GOLDWIND SCIENCE & TECH CO LTD--.--%6 510
FIRST SOLAR, INC.45.47%6 189
XINYI SOLAR HOLDINGS LTD33.09%4 537