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Case Study

CO2Sense act as anchor investor for wind turbine construction bond

In December 2015, CO2Sense partnered with the innovative peer-to-peer lending platform Abundance Investment, acting as an anchor investor to part fund the construction of a 500kW wind project in Stonehaven, Aberdeenshire.

The project, which has been developed by Upper Pitforthie Windgen PLC, utilises an Enercon E-48 wind turbine and provides power to a local biomass woodchip drying facility run by North Eastern Fuels. The project therefore earns an income from a direct power off-take and some export to the grid. Construction was completed in summer 2016 with partners including MES Power Engineering and Whitefield Contracting. 

The instrument used to finance the construction of the project was a 1 year construction bond, structured and marketed by Abundance Investment through their peer-to-peer lending platform. The bond was subscribed to by private individuals as well as other funds. These other funds, alongside CO2Sense, acted as anchor investors enabling the fundraising to close in a quicker period of time. The bond was refinanced through a long term debenture marketed on the same platform a year later, providing the original investors with an exit.


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