An infrastructure fund managed by Iona Capital has secured a £60m (€66.7m) debt facility for its UK bioenergy portfolio.
Iona Capital said the senior secured term facilities has been secured by its Iona Environmental Infrastructure LP (IEILP) fund to enable further distributions to be made to investors.
IEILP – launched in 2012 and backed by UK pension fund investors – has invested in an operational portfolio of 11 anaerobic digestion renewable energy assets, located across the UK.
Nick Ross, founder of Iona Capital said: “It is a testament to the resilience of the underlying assets and the commitment of everyone working on the project that the debt financing was completed in such challenging market conditions.
“It is also a significant milestone for Iona and a firm endorsement of our investment strategy in the low carbon sector.”
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