from TINC (EBR:TINC)
TINC AND PMV INVEST IN THE GROWTH PLANS OF ENERGY COMPANY STORM (B)
TINC AND PMV INVEST IN THE GROWTH PLANS OF ENERGY COMPANY STORM (B)
Antwerp, February 21, 2024, 17:30 CET
Investment must accelerate the transition to renewable energy
TINC, the infrastructure investor listed on Euronext Brussels, and Flemish investment company PMV have jointly committed, each for half, € 60 million of growth financing to Belgian renewable energy company Storm for the realization of an ambitious investment program.
Storm is a Belgian developer and operator of renewable energy projects. The first Storm wind farm in Wachtebeke has been operational since 2012. Meanwhile, 56 wind turbines are in operation or under construction, providing sufficient renewable energy to meet the annual electricity consumption of approximately 140,000 households. In addition to the realization of new wind turbines, Storm is also realising several large-scale battery storage projects and a network of fast-charging stations for electric vehicles in partnership with Q8.
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This investment commitment will be effectively invested in the course of 2024, and will be used among others for the construction of battery storage capacity and the rollout of a network of fast-charging stations.
Contact
Manu Vandenbulcke, CEO TINC
T +32 3 290 21 73 – manu.vandenbulcke@tincinvest.com
Filip Audenaert, CFO TINC
T +32 3 290 21 73 – filip.audenaert@tincinvest.com
Frank Kindt, head of communication PMV
T +32 472 42 07 90, frank.kindt@pmv.eu
Veerle Rosseels, Director Business Support
T + 32 476 80 48 23, veerle.rosseels@storm.be
TINC NV – Karel Oomsstraat 37, 2018 Antwerp, Belgium – T +32 3 290 21 73 –www.tincinvest.com Page | 1
TINC is a listed investment company that seeks to create sustainable value by investing in the infrastructure for the world of tomorrow. TINC participates in companies that are active in the realization and operation of infrastructure and holds a diversified portfolio of participations in focus areas such as public infrastructure, energy infrastructure, digital infrastructure and selective real estate in Belgium, France, Ireland and the Netherlands.
For more information, please visit: www.tincinvest.com
About PMV
The Flemish investment company PMV is shaping the future of the Flemish economy. PMV finances promising companies from the very start, through growth and internationalization. PMV offers tailored financial solutions to all entrepreneurs with a good business plan and a strong management team. It does so with capital, loans and guarantees. It also realizes, with and for the government, and other partners, projects that are important for prosperity and well-being in Flanders. PMV has a portfolio with EUR 1.7 billion under management. It also markets standardized financing instruments, which also contain a support component.
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TINC NV – Karel Oomsstraat 37, 2018 Antwerp, Belgium – T +32 3 290 21 73 –www.tincinvest.com Page | 2