InfraRed has been named as the final institutional equity investor in Tidal Lagoon Swansea Bay. The investment, equaling that of Prudential last October, confirms full equity funding from two British institutions.
InfraRed, a leading global investment manager focused on infrastructure and real estate, will make the investment from existing funds.
Werner von Guionneau, Chief Executive, InfraRed Capital Partners , said: “The power station is unique in that it not only leverages the estuary’s second highest tidal range in the world but it will also make a material contribution towards both the local economy in South Wales and the long term stability of sustainable energy supply in the UK.”
Mark Shorrock, Chief Executive, Tidal Lagoon Power Ltd , said: “Tidal lagoons will employ British industry to harness a British natural resource and return profits to British institutions. InfraRed is now a key partner in delivering this vision and we welcome them on board.”
The tidal lagoon would have a 320MW installed capacity. It is estimated to be connected to the National Grid in 2018.
Image: tidallagoonswanseabay (Illustration)