Mast Energy Developments PLC - developer of reserve power generations plants - Announces that Close Leasing Ltd, a subsidiary of UK lender Close Brothers PLC, has offered facilities to fund the development and construction of the company's two owned reserve power projects currently in development in the UK.
The two projects, Bordersley and Rochdale, are at an advanced stage of development and early construction with all required licensing and connection offers in place.
"We are very pleased with the funding facilities offered by an investment grade financier such as Close Brothers and their willingness to partner with MED, which is another very important key step in continuing to build MED's ever growing projects portfolio. We look forward to working with the Close Brothers team," says MAST Chief Executive Louis Coetzee.
Mast investor Kibo Energy PLC notes the funding announcement.
Current Mast Energy stock price: 11.84 pence
Year-to-date change: down 5.3% from April IPO price of 12.5p per share
By Greg Roxburgh; gregroxburgh@alliancenews.com
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