Menu
03/10/2011
Bank Signs 'Powerful' Kilroot Funding Deal
A major banking institution is to sign a 'powerful' deal in NI with news that Barclays Corporate has completed an innovative £38m funding arrangement that will allow Co Antrim's AES Kilroot Power Station to further enhance its efficiency and secure its long term financing needs.
Commenting on the fundraising, Niall Quinn, Head of Structured Finance Ireland, Barclays Corporate said: "The refinance deal with AES Kilroot Power Limited is a good example of the type of strategic and sophisticated transactions we are supporting despite difficult market conditions. It serves as a clear indication that Barclays is open for business for quality transactions within the energy sector," he said.
"Our team has substantial knowledge of the energy sectors in Northern Ireland and the Republic of Ireland through our recent funding of renewable power projects and regulated utility transmission lines. As a result, we were able to use this expertise and experience to tailor the Kilroot deal to the particular idiosyncrasies of the local power market."
Niall added: "Kilroot power station plays an important role in the local energy infrastructure and is an essential tool available to the market operator in managing system demand and security.
"It is important for us to be able to support our client with this significant funding line, as well as providing all future operational banking requirements."
Commenting, Mark Miller, Managing Director of AES Kilroot Power Limited, added: "We are extremely pleased to have secured this finance arrangement with Barclays as it gives us the flexibility to run our business effectively, whilst securing our long term financing needs. Barclays' in depth knowledge of the local power market enabled us execute this transaction swiftly and successfully."
Mark continued: "They have demonstrated that they are a skilful strategic banking partner and we look forward to developing our relationship with them further."
Kilroot Power Station in Carrickfergus, is a dual coal and oil fired facility and comprises two generators, each capable of producing 300 Megawatts when firing oil.
It is an integral part of Northern Ireland life, producing one third of the region's electricity. Kilroot is also a Top 100 employer in NI.
(BMcC/CD)
Commenting on the fundraising, Niall Quinn, Head of Structured Finance Ireland, Barclays Corporate said: "The refinance deal with AES Kilroot Power Limited is a good example of the type of strategic and sophisticated transactions we are supporting despite difficult market conditions. It serves as a clear indication that Barclays is open for business for quality transactions within the energy sector," he said.
"Our team has substantial knowledge of the energy sectors in Northern Ireland and the Republic of Ireland through our recent funding of renewable power projects and regulated utility transmission lines. As a result, we were able to use this expertise and experience to tailor the Kilroot deal to the particular idiosyncrasies of the local power market."
Niall added: "Kilroot power station plays an important role in the local energy infrastructure and is an essential tool available to the market operator in managing system demand and security.
"It is important for us to be able to support our client with this significant funding line, as well as providing all future operational banking requirements."
Commenting, Mark Miller, Managing Director of AES Kilroot Power Limited, added: "We are extremely pleased to have secured this finance arrangement with Barclays as it gives us the flexibility to run our business effectively, whilst securing our long term financing needs. Barclays' in depth knowledge of the local power market enabled us execute this transaction swiftly and successfully."
Mark continued: "They have demonstrated that they are a skilful strategic banking partner and we look forward to developing our relationship with them further."
Kilroot Power Station in Carrickfergus, is a dual coal and oil fired facility and comprises two generators, each capable of producing 300 Megawatts when firing oil.
It is an integral part of Northern Ireland life, producing one third of the region's electricity. Kilroot is also a Top 100 employer in NI.
(BMcC/CD)
Related Northern Ireland News Stories
Click here for the latest headlines.
25 November 2024
Other News In Brief
DfC Launch Public Consultation On Gender Pay Gap A consultation on proposed changes to Section 19 of the Employment Act (Northern Ireland) relating to the requirements for employers to publish information on the pay of male and female employees has been launched by the Department for Communities.
Other News In Brief
DfC Launch Public Consultation On Gender Pay Gap A consultation on proposed changes to Section 19 of the Employment Act (Northern Ireland) relating to the requirements for employers to publish information on the pay of male and female employees has been launched by the Department for Communities.
26 January 2018
Over 200 Jobs Under Threat At Kilroot Power Station
Kilroot Power Station in Carrickfergus is facing a possible closure after it failed to win a major contract. Over 200 jobs are at risk and the plant faces closure at the end of May.
Over 200 Jobs Under Threat At Kilroot Power Station
Kilroot Power Station in Carrickfergus is facing a possible closure after it failed to win a major contract. Over 200 jobs are at risk and the plant faces closure at the end of May.
31 May 2016
Eight Injured In Multi-Vehicle Crash In Carrickfergus
Eight people have been injured in multi-vehicle crash in Carrickfergus. The collision happened near Kilroot Power Station on the main road on Sunday. Their injuries are not believed to be life threatening and they remain in the Royal Victoria Hospital. Police are appealing for anyone with information to contact them.
Eight Injured In Multi-Vehicle Crash In Carrickfergus
Eight people have been injured in multi-vehicle crash in Carrickfergus. The collision happened near Kilroot Power Station on the main road on Sunday. Their injuries are not believed to be life threatening and they remain in the Royal Victoria Hospital. Police are appealing for anyone with information to contact them.
08 June 2007
Jobs boost for Kilroot power station
A new gas-burning power station costing more than £150 million is to be built in County Antrim. AES Kilroot power station, near Carrickfergus produces around one third of Northern Ireland’s electricity and it is understood around 80 jobs will be created – 40 permanent posts and 40 contract positions – when the plant becomes operational in 2010.
Jobs boost for Kilroot power station
A new gas-burning power station costing more than £150 million is to be built in County Antrim. AES Kilroot power station, near Carrickfergus produces around one third of Northern Ireland’s electricity and it is understood around 80 jobs will be created – 40 permanent posts and 40 contract positions – when the plant becomes operational in 2010.
09 November 2018
New Deal For Kilroot Power Plant But Jobs Still At Risk
Kilroot power station near Carrickfergus, which has been at risk of closing, has been given a new one-year deal for electricity supply after negotiations with the NI Utility Regulator. Its owners, AES, said the move will "ensure energy stability" for Northern Ireland.
New Deal For Kilroot Power Plant But Jobs Still At Risk
Kilroot power station near Carrickfergus, which has been at risk of closing, has been given a new one-year deal for electricity supply after negotiations with the NI Utility Regulator. Its owners, AES, said the move will "ensure energy stability" for Northern Ireland.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
