LCA invests £500,000 in Vigor Renewables
Low Carbon Accelerator (LCA) has invested £500,000 in solar and wind company Vigor Renewables in the form of non-voting preference shares with rights over 90% of the distributable profits.
The ordinary shares are held by the management of Vigor, with rights over the balance of the distributable profits.
Solar and wind developer Vigor is a new company established by Oliver Hughes and Said Bijary 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 identified a pipeline of potential deal-flow and is currently in negotiation on options for over 15 sites including agricultural plots for small-scale wind projects and industrial sites for solar projects based on roof and land space. The first project is scheduled to start during the summer of 2010.
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