14 December 2015

EF Briefs: Trina Solar, EOS IM, GIB, Foresight

GIB and Foresight invest in Northern Irish anaerobic digestion plant

The UK's Green Investment Bank (GIB) and Foresight Group have invested £1.7 million ($2.6 million) in the construction of an anaerobic digestion (AD) plant in Northern Ireland.

The AD plant, which cost £3.4 million in total, will produce 0.5MW of electricity and 18,500 tonnes of nutrient-rich fertiliser a year. Its feedstock will be silage, slurry, chicken litter and beet.

The investment is being made the Foresight-managed Recycling and Waste LP (RAW) fund, in which GIB is a key investor.

This is the third Northern Irish AD project that have been funded by the GIB and Foresight.

EOS IM fundraising for Efesto Energy fund

EOS Investment Management (EOS IM) is trying to raise funds for the second tranche of the Efesto Energy fund, and is thought to be trying to attract €60 million ($66.26 million).

The fund is incorporated in Luxembourg and was originally launched in 2014 with an initial €40 million tranche.

It currently holds eight Italian solar projects with a combined capacity of 25MW.

Trina Solar CEO offers to take company private

Trina Solar's CEO Jifan Gao and a unit of the Industrial Bank Co. have offered to take the Hong Kong-listed solar panel manufacturer private.

The multimillionaire founder of the company and Shanghai Xingsheng Equity Investment & Management offered existing shareholders $0.232 per ordinary share, or $11.6 per American Depositary Shares (ADS) –which is the equivalent of 50 ordinary shares.

Shares in the company traded up $10.61 from $9.55 on the back of the announcement.