Albion pours £3.1m into hydro project

The fresh capital will be used to fund GHR's single 1MW hydropower scheme on the Allt Gharagain near Achansheen in the Scottish Highlands.

The scheme is expected to generate electricity by 2014 and will take advantage of the Feed-in-Tariff programme. The installation is expected to generate an average of 3.1GWh of electricity each year, which is enough to power 850 homes.

Albion invested £9.3m into GHR's 2MW Chonais Hydro project, located close to Loch Carron, in October 2013. GHR also received backing in 2012 from a consortium of investors, led by Scottish Equity Partners, which invested £3.3m to develop a pipeline of hydro generation sites.

Company
GHR is a developer of small-scale hydroelectricity and has developed many schemes in Scotland in the last five years. The business is headquartered in Perth and operates an additional office in Dingwall.

The company was established in 2007 and manages hydroelectricity schemes generating between 50KW to 2MW, from concept through to construction and operation, as well as providing repair and maintenance works.

People
Christoph Ruedig is an investment director at Albion. Ian Cartwright is managing director at GHR.

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• Albion Ventures
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