Islandmagee will have a long asset life; providing steady revenues for at least 40 years.
Due to the nature of the process, we expect the project to be viewed as a long-term investment. With that view, the expected returns are c. 20%.
Up to €4m, in matched funding, was granted by the EU in December 2017 for the up-front costs for the FEED, conditional on the FEED being completed by 22 December 2018.
A Project Finance debt facility is expected to provide a significant proportion of the project funding. The Islandmagee project has pre-qualified as eligible for the UK Government Guarantee Scheme as administered by the Infrastructure Projects Authority (IPA).