Elgin secures EUR 71m to advance solar, storage pipeline

Elgin Energy has secured a GBP-60-million loan (USD 76m/EUR 71m) to advance the realisation of its solar and battery portfolio in the UK and Ireland as various projects are seen to take financial investment decisions and enter construction over the next months.

The British solar and storage developer has arranged the revolving credit facility with Banco Bilbao Vizcaya Argentaria (BBVA), it said in a statement released today.

Elgin has a portfolio of projects in late-stage development that tops 15 GW across its three key markets -- the UK, Ireland and Australia.

Earlier this month, the company launched construction works on three solar farms in Ireland with a combined capacity of 21 MW, adding that it expects to start building 13 projects in 2024.

(GBP 1 = USD 1.264/EUR 1.183)

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