Albion Ventures announce financial support for Erin Solar
One of the largest independent venture capitalists in the United Kingdom, Albion Ventures, had announcement a financial commitment of GBP1.4 million in Erin Solar. Erin Solar is a company set up by ISIS Renewables, which is a commercial solar panel management company. The company provides commercial landlords with solar photovoltaic equipment in Northern Ireland.
The said investment would assist Erin Solar in the development of solar PV projects located in Northern Ireland. The program wouls also receive Renewables Obligation Certificates, which would result in the income generation for its funds for 20 year life through the sale of electricity to the network grid and landlords at a lower price.
According Albion Ventures Investment Manager Marco Yu, "For Albion, this represents a first step in what we hope will be a growing partnership with ISIS. We were immediately attracted to the depth of experience at ISIS as well as their passion for driving forward the green economy in the UK. For our investors, Erin Solar is well placed to generate long term, stable returns that are inflation protected due to a higher ROC banding in Northern Ireland."