Tocardo seeks €5m tidal funds
Bond issue to help fund 59MW pipeline in Canada, Netherlands and UK
Dutch tidal developer Tocardo has kicked off a €5m bond issue to raise funds for its 59MW project pipeline in Canada, the Netherlands and the UK.
Tocardo International BV will issue bonds with a nominal value of €10,000 each. The minimum investment is 10 bonds.
The annual interest paid on the bonds will be 7%.
To date, Tocardo has acquired rights for the development of five tidal projects comprising around 245 turbines.
The company expects the projects to be installed within the next two to five years.
Image: Eastern Scheldt tidal project (Tocardo)