The Macallan whisky distillery in Speyside, Scotland has won backing for its green energy project.
Today it was announced the Green Investment Bank and John Laing are investing £26 million, while the Treasury is guaranteeing £48 million of debt raised from the bond market.
Due to be ready in 2016, the new biomass Combined Heat and Power (CHP) plant is being developed by Estover Energy.
Around 90% of the steam needed in the distillation process at the Macallan distillery should be provided by the CHP plant, helping to trim energy costs.
By using biomass to generate heat instead of natural gas, the distillery expects to slash its greenhouse gas emissions by more than 17,500 tCO2e, equivalent to taking almost 8,000 cars off the road.
It’s set to generate 87.4 gigawatt hours (GWh) of electricity a year – enough to power more than 20,000 homes.
Business Secretary, Vince Cable said: “This investment in Speyside will not only help secure jobs, boost a vital industry and support the local supply chain but also generate renewable energy for homes in Scotland.”