21st December 2023
On 5th September 2023, Innova NG Holdings (“Innova”) secured a £50m development facility, raised by CH1 Investment Partners LLP, to fund the continued development of Innova’s transmission-connected portfolio. The securing of this facility builds on the long-standing funding relationship, including the previous funding of Innova’s DNO development pipeline and operational subsidised solar portfolio.
The new facility, with £14.75m drawn upfront, will be used to mature and progress projects through the development milestones. Innova’s development pipeline, currently one of the largest in the UK at over 24GW, builds on the success of their distribution portfolio, and will provide a significant stepping stone towards reaching the UK’s Net Zero targets.
Tom Cooledge, Investment Director at Innova, said:
“We are delighted to have secured this funding which will enable us to further progress the growth and development of our significant transmission-connected development pipeline. CH1 are trusted funding partners who Innova have successfully worked with for over a decade, and we look forward to working with them again.”
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