One of the biggest independent venture capital investors in the UK, Albion Ventures, had invested GBP9.3 million in partnership with Green Highland Renewables, a developer based out of Perth for the development of a single two megawatt hydropower project. The said project is located at Allt A'Chonais, near Loch Carron in the Scottish Highlands.
The scheme is workable under the Feed-in-Tariff regime with a projected schedule to produce power for the grid by the first quarter of 2015. The said power producer is expected to generate seven gigawatt hours of electricity annually, which is enough to provide electricity for 2,000 households.
This is the eleventh such investment undertaken by Albion in the renewable energy market and its second one in the hydroelectric scheme. This underlines the strategy of Albion to expand in this industry.
According to Green Highland Renewable Managing Director Ian Cartwright, "Albion has an impressive reputation in supporting businesses in the renewables sector and we are very pleased to be partnering with the team. Their investment in this prokect is a strong boost to realizing our goal of becoming one of the leading owners and operators of small scale hydroelectric schemes in the UK. We look forward to developing this, as well as future hydro projects, in partnership with Albion."
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