Our Deepbridge Renewable Energy Enterprise Investment Scheme (EIS) fund has announced an exit for its investors.
Deepbridge Renewable Energy Limited, a trading company within the EIS Fund which constructed and managed wind turbines in Northern Ireland, has been sold to a private buyer, providing a 1.146x return for investors, excluding tax reliefs available under the Enterprise Investment Scheme.
“We are delighted to have provided a positive return to investors on their investment in the Deepbridge Renewable Energy EIS. This return validates our cautious approach to investing in renewable energy, with our aim being to provide long term growth to investors. Although renewable energy assets no longer qualify for Enterprise Investment Scheme tax reliefs, such assets remain the focus of the Deepbridge Estate Planning Service. opportunities, with such investment supporting the UK Government’s drive towards renewables becoming a primary source of electricity, particularly in Northern Ireland, where all of our current wind assets are based. According to economy-ni.gov.uk, between January and December 2020, 49.2% of total electricity consumption in Northern Ireland was generated from renewable sources. In addition, of this 84.9% was generated from wind. During the same period, as reported by the UK Government, the rest of the UK sourced 43% of energy from renewable sources, with approximately 56% of this being produced by wind.”
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