Albion injects £1.3m into Welsh hydropower project
UK-based VCT investor Albion Ventures has invested £1.3m to fund a hydropower project in Wales, in partnership with Welsh developer Dragon Hydro Limited.
The capital injection will fund the development of a 300KW hydropower scheme on the Afon Cadair river in Gwynedd, Wales.
The investment is Albion's seventh in the renewable energy sector and its first in hydropower.
Company
Bedford -based Dragon Hydro is an engineering company that specialises in the development, financing, construction and operation of hydropower-generated power plants.
Following the investment from Albion, the firm will develop a 300MW hydropower scheme on the Afon Cadair river, which is forecast to begin generating electricity in Q3 2013. The installation is expected to generate enough electricity to power up to 300 households.
People
Michael Kaplan is a partner at Albion Ventures and investment director at Dragon Hydro.
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