Northern Ireland

Multi-million pound investment in firm behind planned Belfast power station

Proposed plant Image copyright Evermore Energy
Image caption Belfast Power is proposing to build a 480MW gas-fired station in the Belfast Harbour Estate

Northern Ireland's largest local venture capital fund, Crescent Capital, has invested in the firm behind a planned new power station in Belfast.

The precise size of Crescent Capital's investment has not been disclosed, but it is described as "multi-million".

Belfast Power is proposing to build a 480MW gas-fired station in the Belfast Harbour Estate.

A recent filing shows a Crescent Capital fund holds 1200 preferred shares in Belfast Power.

'Significant milestone'

Belfast Power Holdings controls 4000 shares.

A director of Belfast Power, Ciaran Devine, said the investment marks a "significant milestone" in the project.

He added that the design of the power station is being finalised and a planning application will be submitted in the coming weeks.

Evermore Energy has previously developed a 16MW biomass power station at Lisahally in Londonderry.

Crescent Capital's previous investments include Andor Technology, Balcas and PathXL.

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