Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Igas Energy Plc LSE:IGAS London Ordinary Share GB00BZ042C28 ORD 0.002P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -7.30 -20.28% 28.70 28.70 29.00 35.20 28.10 35.20 1,277,768 16:29:53
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 37.9 -12.3 -5.0 - 36

Igas Energy PLC Iona Capital solar farm development agreement

18/10/2021 7:00am

UK Regulatory (RNS & others)


Igas Energy (LSE:IGAS)
Historical Stock Chart


From May 2021 to May 2022

Click Here for more Igas Energy Charts.

TIDMIGAS

RNS Number : 3070P

Igas Energy PLC

18 October 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

18 October 2021

IGas Energy plc (AIM: IGAS) ("IGas" or "the Company")

Agreement signed with Iona Capital (Iona) for solar farm development

IGas announces that it has agreed a Heads of Terms (HoT) with Iona, an investor with a long track record of successfully investing in UK renewable energy projects.

Under the HoT, IGas and Iona will jointly develop utility scale solar farms in the UK, initially leveraging the strong landowner relationships that IGas has through its long history of onshore oil and gas operations.

The first, of what is expected to be several similar scale projects, will be situated in southern England and will be 25-40MW in size. IGas will contribute its planning and infrastructure expertise, whilst Iona will provide non-recourse project finance. During the development phase, costs will be shared and throughout the project lifecycle, IGas and Iona will each own 50% of the project.

Commenting Stephen Bowler, IGas CEO, said:

"We are delighted to sign this agreement with Iona. This is another example of how we can leverage the Group's existing operational expertise as the UK's largest onshore operator and use our existing business platform to play an important role in the UK's transition to net zero.

We are keen to develop our relationship with Iona and other partners as we seek to maximise value using existing assets and skillsets within the business."

Nick Ross, Director of Iona Capital, added:

"Given our focus on renewable and environmental investments in the UK over many years, the PV solar sector is a natural area for us. We are very pleased to enter into this partnership with IGas, given their extensive experience of energy project development in the UK."

For further information please contact:

   IGas Energy plc              Tel: +44 (0)20 7993 9899 

Stephen Bowler, Chief Executive Officer

Ann-marie Wilkinson, Director of Corporate Affairs

Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970

Sara Hale/Jeremy Ellis/Virginia Bull

Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

   Vigo Consulting                Tel: +44 (0)20 7390 0230 

Patrick d'Ancona/Chris McMahon /Kendall Hill

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

AGRMRBMTMTJBTAB

(END) Dow Jones Newswires

October 18, 2021 02:00 ET (06:00 GMT)

1 Year Igas Energy Chart

1 Year Igas Energy Chart

1 Month Igas Energy Chart

1 Month Igas Energy Chart
ADVFN Advertorial
Your Recent History
LSE
IGAS
Igas Energ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220528 10:02:22