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Alliance for UK renewables entry announced

UK renewable energy finance and insurance company Narec Capital has been appointed by offshore wind developer Idermar to advise on finance, insurance and UK market entry.

Idermar Meteo, is joint venture between SODERCAN, Group APIA XXI, the Environmental Hydraulics Institute IH Cantabria, of the University of Cantabria (UC) and the Helium Company,

The company is looking to deliver a market leading technology to provide the installation and operation of offshore based meteorological mast projects for the production of wind and related data.

Jerry Biggs, Chief executive of Narec Capital, commented: “We are delighted to have been appointed by Idermar, which cements the collaborative relationship we have had with the company over the last few months.”

“Our rapidly growing financial risk mitigation and technical due diligence activities are already helping us to bring much-needed additional financial capacity into the renewable sector.”

“We are looking forward to working with the team at Idermar to accelerate their development and commercial strategy over the coming months.”

A representative from Idermar said, “We are pleased to announce the appointment of Narec Capital to assist us with achieving our next stage of growth and entry into the UK Offshore Wind market.”

“We have worked closely with Narec Capital over the last few months and I have complete confidence that with their specialised finance and insurance team working alongside us we can achieve our commercial objectives.”