Albion invests in GHR hydropower scheme

Ellie Pullen
21 October 2013

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Albion Ventures has invested ТЃ9.3m in a hydropower scheme developed by Green Highland Renewables (GHR), a Perth-based hydro-electric specialist backed by Scottish Equity Partners (SEP).

Albion is backing GHR's single 2MW hydropower scheme, which is based on the Allt A'Chonais, close to Loch Carron, in the Scottish Highlands. The scheme is expected to generate enough electricity, at an average of 7GWh per year, to power around 2,000 households and is forecast to generate its first electricity at the beginning of 2015.

The capital injection marks the 11th investment in renewable energy by Albion and the second in hydropower. Previous investments in the sector by Albion include a £1.3m injection into Dragon Hydro, a Welsh small-scale hydro-electric plant developer, and a £2.9m investment in TEG Biogas, a Perth-based anaerobic digestion plant.

Previous funding
In 2012, GHR received funding from SEP, via its £95m Environmental Energies Fund, and Scottish Enterprise. The two parties injected £3.3m into the company. GHR's equity is split between SEP, Scottish Enterprise, the founding shareholders and members of staff.

Company
Founded in 2007, GHR is headquartered in Perth with an additional office in Dingwall. The company develops and operates small-scale, run-of-the-river hydropower projects from 50KW to 2MW.

People
Paul Capell is the chairman of GHR, while Ian Cartwright is the company's managing director. Christoph Ruedig is an investment director at Albion. SEP principal Tony Robison sits on GHR's board of directors as a non-executive director.