UK venture capitalists pump £3.1m in third hydropower project

UK-based venture capitalists have agreed to pay £3.1 million to fund a hydropower project in the Scottish Highlands. The 1MW plant, which will be built by Green Highland Renewables, is […]

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By Priyanka Shrestha

UK-based venture capitalists have agreed to pay £3.1 million to fund a hydropower project in the Scottish Highlands.

The 1MW plant, which will be built by Green Highland Renewables, is expected to generate 3.1GWh of electricity every year – enough to power up to 850 households.

It is Albion Ventures’ tenth investment in renewable energy and the third investment in a hydropower project.

Christoph Ruedig, Investment Director at Albion Ventures said: “Hydropower is the oldest renewable technology and has a strong track record of performance, which will provide attractive long-term returns for our shareholders.”

The plant is expected to generate its first electricity by the end of this year.