NCB Capital Markets Limited says it has over the last two weeks arranged over $6 billion in financing aimed at supporting an expansion of the local energy sector.
The regional brokerage house, which said it was bullish about driving growth in the energy sector despite continued economic challenges, recently structured bonds for Wigton Windfarm Limited and Future Energy Source Company Limited (Fesco), raising $5.8 billion and $1 billion in capital, respectively.
Tracy-Ann Spence, Chief Operating Officer of the Capital Markets noted in a company release:
“With the levels of uncertainty existing in the global markets, coupled with the emergence from COVID-induced challenges, it is critical that adequate financial support be provided to businesses to support their recovery efforts,”.
Wigton, a renewable energy provider, supplies wind-generated electricity to the national grid, while Fesco, a marketer and distributor of petroleum products, operates across some 13 dealer-owned and/or company-owned service stations across the island.