The writedown pushed it a full-year net loss of £86.8 million (€97 million). The auction was run by national grid operator Eirgrid and overseen by the Commission for Regulation of Utilities (CRU). Market sources said it is unlikely that I-Squared will officially launch a sales process until the matter is clarified. A spokesman for Viridian decline to comment while effort to secure comment from I-Squared were unsuccessful. Viridian’s sterling-denominated bonds that are due to be redeemed in 2024 rose by 0.7 per cent on Friday to 95.1c on the pound.

Source: The Irish Times September 08, 2018 04:52 UTC