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Cepsa’s Positive Motion: 400MW Solar Project to Generate 840GWh of Energy in Castilla-La Mancha, Spain

Cepsa’s Positive Motion: 400MW Solar Project to Generate 840GWh of Energy in Castilla-La Mancha, Spain

Spanish oil and gas firm Cepsa has announced plans to build three solar projects in the region of Castilla-La Mancha, Spain. The combined capacity of these projects is 400MW, with an investment of €280 million. Construction on all three of these facilities is projected to begin in early 2025.Upon completion, the plants will generate an annual energy output of 840GWh, which stands for nearly a third of the province’s total domestic consumption. In support of this project, local councils from two towns associated with the development have signed deals under the “Sumamos Energías” initiative. This program seeks to boost the local economy while diminishing environmental impact.Geronimo de Angulo, Cepsa’s director of photovoltaic initiatives noted that Castilla-La Mancha fits perfectly into their Positive Motion strategy; which strives to reduce carbon footprints while creating shared value and establishing mutually beneficial relationships founded on trust over time. Additionally, Cepsa estimates that nine total developments in this region will bring about more than 2100 jobs during construction alongside more than €840 million worth of investment into the project overall.

Summary

  • Cepsa will add three new solar projects in Castilla-La Mancha, Spain with a combined capacity of 400MW.
  • Once in operation, these projects will produce an estimated annual energy output of 840GWh.
  • Cepsa has committed to developing nine projects in this area, with a total capacity of 1200MW, generating more than 2,100 jobs during their construction.

What is the estimated annual energy output of the three new solar projects in Castilla-La Mancha, Spain?

The estimated annual energy output of the three new solar projects in Castilla-La Mancha, Spain is 840GWh.

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Picture source: Jorge Fernández Salas

Alpha Real Capital Closes £90 Million in Wind Power Acquisitions to Secure Sustainable Income Real Assets

Alpha Real Capital Closes £90 Million in Wind Power Acquisitions to Secure Sustainable Income Real Assets

Alpha Real Capital, a leader in the provision of sustainable income real assets, has concluded three transactions involving wind power projects that total more than £90 million. The acquisitions involve a portfolio of 10 wind turbines found in Fife, County Durham, and Bedfordshire owned by an investment firm; a collection of 14 wind turbines situated in Cumbria which were purchased from EIS funds; and finally, a single-turbine location based in Leicestershire was acquired directly from private owners.Through its dedicated renewable infrastructure team, Alpha Real Capital has committed over £900 million to the market since 2013. Of this amount, 40% was put forward over the past two years alone. Will Morgan, Head of Renewable Infrastructure at Alpha Real Capital commented: “These latest acquisitions complete our WRIF fund which was established for UK institutional investors and involves a capital deployment worth £180 million. This is an outstanding accomplishment for the business”.

Summary

  • Alpha Real Capital has closed three wind power acquisitions worth over £90m.
  • The acquisitions consist of a 27.45MW portfolio, a 9.2MW portfolio and a 500kW single turbine site.
  • Alpha Real Capital’s dedicated renewable infrastructure team has now deployed over £900m in equity since 2013.

What is the total amount of equity Alpha Real Capital has deployed into their Wind Renewables Income Fund since 2013?

Alpha Real Capital has deployed over £900m in equity into their Wind Renewables Income Fund since 2013.

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Orsted to Revolutionize Texas Energy with 471 Megawatt Solar Project

Orsted to Revolutionize Texas Energy with 471 Megawatt Solar Project

Orsted have taken the final step to begin construction of their 471 megawatt AC Mockingbird solar project in Texas, set to commence this month. The solar centre will be the largest yet added to Orsted’s portfolio and should be completed by 2024. Mockingbird is estimated to be able to power more than 80,000 households each year with its generated renewable energy. David Hardy, CEO of Region Americas at Orsted, expressed his enthusiasm for the ambitious project: “By adding almost half a gigawatt to our portfolio, the decision to build Mockingbird represents an important milestone for our onshore business and for our expansion in solar PV. We are looking forward to producing large amounts of clean energy while ensuring conservation and benefitting local communities. In addition, around 1000 acres of land next to Mockingbird has been donated by Orsted to The Nature Conservancy (TNC) so they can protect native prairie in the north-east of Texas.

Summary

  • Orsted has taken a final investment decision to build the 471MW AC Mockingbird solar centre in Texas.
  • Mockingbird will be able to generate enough renewable energy to power more than 80,000 homes annually.
  • Almost 1000 acres of land adjacent to Mockingbird solar centre will be donated to The Nature Conservancy (TNC) to protect native prairie in north-east Texas.

What is the size of the Mockingbird solar centre in Texas?

The size of the Mockingbird solar centre in Texas is 4900 acres.

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Picture source: Andreas Gücklhorn

Cryptiony Secures €500k Pre-Seed Financing to Launch into UK Crypto Market and Expand Development Team

Cryptiony Secures €500k Pre-Seed Financing to Launch into UK Crypto Market and Expand Development Team

Cryptiony has just closed a €500k pre-seed financing round led by ff Venture Capital of New York with participation from Pointer.Capital and Marcin Wenus, a web3-focused angel. This funding will help Cryptiony launch into the UK, the largest crypto market in Europe, with a subscription model that provides it a price advantage over competitors. The startup is also expanding its development team to introduce new features and integrations with different exchanges and blockchains. In 2022 alone, Cryptiony recorded a tenfold increase in subscriber numbers in Poland and they are striving for European leadership by the end of 2025. With expanding recognition of cryptocurrency tax obligations, Cryptiony is helping people stay informed and compliant by providing automated tax calculation services that are fast, easy and affordable to use.

Summary

  • Cryptiony has closed a €500k pre-seed financing round
  • Tax authorities are starting to put pressure on crypto asset holders to file crypto gains, losses and staking payments as part of annual tax reporting
  • Cryptiony aims to make cryptocurrency tax calculation easy, fast and affordable for beginners, professional traders and accountants

What advantages does Cryptiony have over its competitors?

Cryptiony has a strong price advantage over competitors, has already achieved leadership in Poland, and is aiming for European leadership by the end of 2025, making it an attractive option for individuals, traders and tax professionals.

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Relio Secures €3M Financing Round to Facilitate Digital Payment Solutions for Business Customers

Relio Secures €3M Financing Round to Facilitate Digital Payment Solutions for Business Customers

Relio, a Switzerland-based SME banking startup founded by Lav Odorovic—co-founder of German digital bank Penta—has successfully closed a €3 million financing round. The newly acquired funds will be allocated to further developing the company’s tech stack and obtaining a Finma Fintech license.The startup offers a unique digital payment account solution tailored to business customers in order to cope with regulatory and compliance barriers common in such circumstances. Relio’s automated compliance system facilitates timely salary payments and invoice settlements. The financing round has been supported by several prominent investors, including SIX Fintech Ventures, High-Tech Gruenderfonds, TX Ventures as lead investor, along with F10, Elsa Invest, daFUND and QBIT Capital, plus a number of business angels.

Summary

  • Relio, a Swiss SME banking startup founded by Lav Odorovic, the co-founder of German digital bank Penta, has raised €3 million.
  • Relio is launching a digital payment account for business customers founded on a platform built to overcome the regulatory and compliance barriers that hamper similar ventures.
  • The venture is backed by SIX Fintech Ventures, High-Tech Gründerfonds, as well as TX Ventures as a new lead investor.

What regulatory and compliance barriers does Relio aim to overcome?

Relio aims to overcome regulatory and compliance barriers by developing an automated compliance system and obtaining a Finma Fintech license.

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Deloitte Ventures Leads $2.5 Million Investment in Prograd to Empower Gen-Zers with Financial Literacy

Deloitte Ventures Leads $2.5 Million Investment in Prograd to Empower Gen-Zers with Financial Literacy

Today, Prograd has announced its $2.5 million seed round of investment led by Deloitte Ventures. The funding will be used to increase the company’s marketing and development capabilities, expand its digital presence, release an app, and improve algorithms and products. Founded in London by recent university graduates Ethan Fraenkel and Marco Logiudice, Prograd’s mission is to reduce financial illiteracy amongst Gen-Zers across the world. After experiencing difficulty finding sustainable finances to cover university fees, they realised how little they knew about personal finance, so set out to create a platform which allows users to set financial goals and find paths to reaching them through earning, saving or borrowing. Since August 2022 over 15k users have taken advantage of Prograd’s services to understand their personal finances better and access earning, savings and credit opportunities from leading providers such as Santander, Revolut, Starling and Fiverr. With today’s substantial seed round secured, Prograd is on track to make personal finance simple for many more young people across the globe.

Summary

  • Prograd has announced a $2.5m seed round
  • The company provides users with personalised paths to earning, saving or borrowing their way to financial goals
  • Since launching in August 2022, Prograd’s has helped over 15k users improve their financial situation

What types of investment did Prograd receive for its $2.5m seed round?

Prograd’s $2.5m seed round included investment from Deloitte Ventures, Techstars, ZAKA Ventures, AGAM, Mandeep Singh founder of Trouva, and new and existing angel investors.

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Picture source: Giammarco

Enfinity Global Completes Acquisition of 400MW Solar Energy Portfolio, Signaling Ambitious Plan to Develop 7GW of Renewable Assets Across the Globe

Enfinity Global Completes Acquisition of 400MW Solar Energy Portfolio, Signaling Ambitious Plan to Develop 7GW of Renewable Assets Across the Globe

Enfinity Global has officially completed the acquisition of an extensive 400MW portfolio of solar energy plants. Located in California, North Carolina, and Idaho, the 28 operational projects are contracted under long-term power purchase agreements with investment grade utility offtakers and expected to yield a substantial EBITDA yearly. The acquisition is a part of Enfinity’s ambitious plan to develop 7GW of renewable energy assets throughout the globe. The deal was supported by experienced financial partners Nomura and AB CarVal, both of which provided co-financing for the purchase. In addition, CCA Capital LLC and McDermott Will & Emery offered advice on the transaction. Carlos Domenech, CEO of Enfinity Global, expressed his gratitude for this opportunity: We thank Capital Dynamics for allowing us to work together with our investment partners. To successfully transition towards sustainable energy sources, investments need to be instilled in accordance with large capital requirements. CEO Americas Ricardo Diaz also gave his appreciation to co-financing allies: We are delighted by the confidence Nomura and AB CarVal have placed in us. Our presence in US markets will only expand further through our 1.6GW collection of private projects – plus more investments into renewable energy developers.

Summary

  • Enfinity Global has completed the acquisition of a 400MW operational utility-scale solar portfolio.
  • The portfolio holds long-term power purchase agreements with investment grade utility offtakers.
  • Enfinity Global is expanding their presence in the US market by executing their 1.6GW proprietary pipeline of projects and pursuing further investment opportunities.

What is the total amount of renewable energy investments made in the US in 2021?

The total amount of renewable energy investments made in the US in 2021 was over $100bn.

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Picture source: Bill Mead

Transformation of Nottingham’s Island Quarter Begins with £50 Million Investment

Transformation of Nottingham’s Island Quarter Begins with £50 Million Investment

A massive transformation project in Nottingham has been given the greenlight, as approximately £50 million of funding has been agreed for a 693-bed student accommodation scheme. Developer Conygar is set to complete the site by 2024, and will be raising an additional £30 million through the issue of zero dividend preference shares early this year.The Island Quarter site – which is situated on sprawling land on the city’s east side – will be turned into a three-storey pavilion featuring restaurants and a rooftop terrace. Chief executive Robert Ware said he “is delighted to have secured the facilities with Barclays which now enables both the completion and also the subsequent letting of the student accommodation development at The Island Quarter”. Covering 36 acres in total, it received outline planning permission in 2019. Furthermore, plans have been submitted for 249,000 sq ft of bioscience laboratory and office space within the development. With these funds now secured, work can begin on transforming The Island Quarter into an exciting development for Nottingham residents.

Summary

  • Almost £50 million of funding has been agreed to support the completion of a 693-bed student accommodation scheme in The Island Quarter site, Nottingham.
  • Developer Conygar said it had agreed up to £47.5 million of new banking facilities with Barclays, secured against the city centre development area.
  • Conygar said it also hoped to raise £30 million of additional capital through the issue of zero dividend preference shares early this year.

What funds will be used to complete the 693-bed student accommodation scheme in The Island Quarter site, Nottingham?

The funds to complete the 693-bed student accommodation scheme in The Island Quarter site, Nottingham are up to £47.5 million of new banking facilities with Barclays and £30 million of additional capital through the issue of zero dividend preference shares.

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Unveiling a Historic Transformation: The £8.7 Million Renovation of the Pattern Shop in Newcastle

Unveiling a Historic Transformation: The £8.7 Million Renovation of the Pattern Shop in Newcastle

This year marks the completion of a £8.7 million renovation project to update a historic Tyneside building – the Pattern Shop in Newcastle – which 200 years ago served as a focal point for the construction of the world’s first steam train. The Grade II listed building, located close to Central Station and other transportation links, will provide approximately 32,000 sqft of welcoming space for businesses looking to make their mark in the city’s creative and digital sector. Introducing industry-leading telecommunications connectivity and sustainable infrastructure solutions, this three-story hub is designed to accommodate up to 300 people in either single office lets or flexible SME workspace. Xsite Architects have been put in charge of designing an eye-catching glulam mezzanine floor, with unique industrial features from the original workshop being skilfully retained throughout the area. This ambitious transformation is just one phase of wider future developments on the Stephenson Quarter site being overseen by igloo Regeneration and Newcastle City Council. Pippa Heron commented: “The Pattern Shop is returning as a truly iconic building that will be a major part of the city’s renaissance in 2023.

Summary

  • The Pattern Shop is being transformed into modern offices and exhibition space.
  • It will provide a large-scale exhibition and creative space for the city, as well as offering flexible SME workspace.
  • The building will feature industry-leading telecommunications connectivity and sustainable technology.

What is the expected completion date for Pattern Shop in Newcastle?

The expected completion date for Pattern Shop in Newcastle is 2023.

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Picture source: Devon Saccente

Aviva Investors Sells Iconic Manchester Corn Exchange for £43m

Aviva Investors Sells Iconic Manchester Corn Exchange for £43m

The sale of the building marks a significant milestone for Aviva Investors, with the proceeds likely to be used to purchase other investments. The iconic Corn Exchange, located in the Medieval Quarter of Manchester city centre, has been sold by giant investment company Aviva. JLL and KLM Real Estate were jointly marketing the property at an estimated price of £43m before it was acquired by Aviva Investors. Built in 1837, the Corn Exchange is now a modern leisure destination and apart-hotel run by Roomzzz. With tenants such as Benyan, The Cosy Club, Pizza Express, Pho, and Mowgli also based there, it’s no wonder that this iconic building had so much attention from investors! Aviva originally bought the property in 2005 from Blackstone Group and Milligan Retail Resorts for £67m. Now that the sale has been made, those funds are set to be used for other investments.

Summary

  • Aviva Investors has disposed of the Manchester Corn Exchange for around £43m.
  • The building, which was built in 1837, is now a leisure destination and apart-hotel.
  • Aviva’s Norwich Property Trust originally bought the Corn Exchange from Blackstone Group and Milligan Retail Resorts in 2005 for £67m.

What entity purchased the Manchester Corn Exchange from Aviva Investors in 2020?

Aviva Investors sold the Manchester Corn Exchange to an unknown entity in 2020.

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Picture source: William McCue