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Tocardo bond issue hits target

Dutch tidal developer raises €850,000 within 24 hours

Tocardo bond issue hits target image

Dutch tidal developer Tocardo has hit its €850,000 target within 24 hours of launching a bond scheme to refinance its 1.25MW Eastern Scheldt project in the Netherlands.

The company said the success of the crowdfunding initiative was “overwhelming”.

On 27 September, Tocardo announced the launch of five-year bonds paying 6% annual interest to refinance the Eastern Scheldt storm surge barrier project featuring five of its 250kW T2 turbines.

The minimum investment was €500.

Image: Eastern Scheldt tidal project (Tocardo)

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