Ogi has secured a £45m financing package from Cardiff Capital Region (CCR), alongside ongoing investment from its principal shareholder Infracapital, to support the next stages in its growth.
Thu, 15/08/2024 - 11:04
The Scottish National Investment Bank has invested a further £10m in Highland Broadband to boost the altnets aim of addressing 100,000 premises.
The Bank initially provided funding of £20m to Highland Broadband in 2021 and a further £20m in 2023, which helped the altnet install networks to areas of East Lothian, Stirlingshire, Fife and the Highlands north of Inverness.
As part of its latest phase, Highland Broadband began deploying further network throughout the Highlands across the Black Isle, Great Glen and the Cairngorms.
Gavin Rogers, CEO of Highland Broadband, part of Lothian Broadband Networks, said: “The Highlands and Islands face unique connectivity challenges, but we view overcoming these barriers as essential for providing what should be a basic service for everyone in Scotland.
“The Bank’s continued support has enabled us to accelerate our plan to connect these regions, which ultimately helps reduce place-based inequality in areas such as education, employment and healthcare.”
Andy Clapp, Executive Director, Scottish National Investment Bank, said: “The installation of gigabit capable networks, which so many of us take for granted, is already having a real-world impact that’s strengthening the threads of Highland communities.”
