A high-profile London investment banker has singled out Grimsby as being at the heart of renewable energy opportunities in the UK. Trevor Castledine, chief operating officer of alternatives specialist Future Capital Partners (FCP), has written an article for the Citywire financial news service headlined – “Why Grimsby is at the centre of the energy revolution”.
A high-profile London investment banker has singled out Grimsby as being at the heart of renewable energy opportunities in the UK. Trevor Castledine, chief operating officer of alternatives specialist Future Capital Partners (FCP), has written an article for the Citywire financial news service headlined – “Why Grimsby is at the centre of the energy revolution”.
FCP is one of the UK’s leading alternative investment boutiques, specialising in renewable energy, international property, healthcare and media investing and financing. Trevor Castledine said:
“Liquid renewable transport fuels (RTFs) in the form of ethanol and biodiesel are the only current low-carbon alternatives to fossil fuels and the liquid fuel infrastructure already exists, meaning that the transportation and distribution logistics are already in place.
“Investing in RTFs seems to offer a particular opportunity to invest in renewable energy in order to capture the value of what are enormous legislative incentives, where the infrastructure is in place and with limited technology risk.
“This might be through companies which exclusively own and operate RTF facilities or through an investment directly in the building and commissioning of an RFT facility such as Future Fuels, a recently announced opportunity to invest in a 200 million litre per annum facility to be built in Grimsby.”
Future Fuels is a partnership established by FCP to fund the building of a bio-ethanol plant in Grimsby. The industrial scale plant will produce two principal products - bio-ethanol and high protein animal feeds. Agreements signed with two global institutions to purchase the plant’s produce will ensure profitability. A major global investment bank has already agreed a £1bn purchase for the first ten years of production, while a global commodities trading firm has made a £500m commitment over the same period to purchase the animal feed produced.
More than 50 permanent jobs will be created at the 10-hectare site, with hundreds of roles in the construction period. Grimsby's location, with access to deep-water ports, three of the biggest refineries and the most intense wheat-growing area in Britain, made it ideal for such a development.
Source: http://www.citywire.co.uk/professional/-/blogs/the-wealth-manager-blog/content.aspx?ID=382957