Narec Capital forms collaboration for clean technology investment

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Narec Capital Limited is collaborating with Spanish power group, Iberdrola, and Frontier IP Group plc to provide investment and industrial leadership for promising clean technology companies.

Narec Capital intends to launch its Accelerated Renewable Deployment Portfolio (ARDP) with a fund up to £50 million that aims to accelerate deployment timeframes and reduce the cost of energy for renewable projects.  Iberdrola will work alongside the ARDP as both a co-investment and industrial partner.  Fundraising for the ARDP is underway and both parties are already engaged in assessing and refining a joint deal pipeline.  Iberdrola, Spain’s leading energy group and one of the world’s top power companies with a world leading position in renewable energy, invests in innovative energy technologies and businesses through its corporate venture capital program, PERSEO.

Frontier IP has an agreement in place with Narec Capital to provide fund management and administration services to the ARDP.

Narec Capital provides specialist financial advice to companies and projects within the renewable energy sector.  Muckle LLP advised Narec in early 2011 on setting up Narec Capital as a joint venture with financial services company Ashberg Limited.

This latest collaboration was described by Jerry Biggs, Chief Executive of Narec Capital as helping to “ensure that technologies are selected that have direct application for industry.  By applying Narec Capital’s rigorous due diligence and commercialisation process alongside Iberdrola’s industrial pull through capability, we can help to mitigate risk of failure, address the funding and adoption gap and increase investment returns.”

For more information, help or advice please contact our Energy Team on 0191 211 7777 or email [email protected].