Deals this week: WavEC Offshore Renewables and Enerdynamic Hybrid Technologies

2 February 2017 (Last Updated February 2nd, 2017 18:30)

WavEC Offshore Renewables and LOC Group have partnered to develop offshore wind projects.

WavEC Offshore Renewables and LOC Group have partnered to develop offshore wind projects.

WavEC Offshore Renewables is based in the Portugal, whereas LOC Group is based in the UK.

Enerdynamic Hybrid Technologies has raised C$0.37m ($0.28m) in gross proceeds from the second tranche of a private placement of 2,454,000 units, priced at C$0.15 ($0.11) a unit, which includes one common share and one-half of a share purchase warrant.

The holder of the unit is entitled to acquire one common share at a price of C$0.2 ($0.15) on completion of 24 months following the transaction closure.

Proceeds are intended to be used for general working capital purposes.

Welspun Renewables Energy Private has raised gross proceeds of Rs12bn ($175.8m) from the private placement of guaranteed, redeemable, rated, taxable, non-cumulative, non-convertible debentures.

Due 31 January 2022, the debentures carry an interest rate of 8% a year.

Proceeds are intended to be used to prepay existing higher cost debt of the company and its subsidiaries.

Atlantis Resources and Ideol have signed a memorandum of understanding (MoU) to develop floating offshore wind projects with a combined capacity of 1.5GW in the UK.

Ideol will design the technical concepts and provide floating foundation systems for windfarms, while Atlantis will identify sites and attract third-party funding for proposed projects.

The 100MW pre-commercial phase of the project is expected to be commissioned by 2021.