Rame Energy Raises Funds to Speed Up Chile Wind-Farm DevelopmentLouise Downing
Rame Energy Plc, a developer of clean-power projects, raised 750,000 pounds ($1.2 million) to accelerate the development of four wind farms in Chile.
Rame raised the money through the placing of about 4.8 million shares with new and existing private and institutional investors, the Plymouth, U.K.-based company said today in an e-mailed statement. It will use the funds to accelerate the “final studies” and permitting required to develop the 118 megawatts of wind farms it plans in the South American country.
Rame in June said it will sell stakes in the four projects to Santander Investment Chile Ltda. to provide as much as $69 million of equity funding.