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Rame Energy

  • BY: Andrew Hore |
  • POSTED: 16/06/2014 |

Renewable energy consultant Rame Energy has agreed equity funding of up to $69m from Santander and this will finance four wind power projects in Chile with a capacity of 118MW. 

Santander will pay an agreed amount per MW and take a stake in each project of between 80% and 90%. Rame will contribute the rest of the equity and Santander will arrange debt finance. These four projects should be up and running by the end of 2015. Due diligence is still required on the deal.

Santander has already co-financed two wind power projects in Chile totalling 15MW. These two projects should be in operation by the end of 2014. Santander is likely to become involved in other projects.

At 15.5p a share, up 0.38p, Rame is valued at £14.8m. 

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