£60m boost for UK community green projects

A new investment of £60 million to help towards community-scale renewables projects across the UK has been announced. Business Secretary Vince Cable said the UK Green Investment Bank (GIB) will […]

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By Taryn Nixon

A new investment of £60 million to help towards community-scale renewables projects across the UK has been announced.

Business Secretary Vince Cable said the UK Green Investment Bank (GIB) will provide £50 million and the Strathclyde Pension Fund (SPF) will provide the remainder.

The first project to be developed is a 2MW hydro power plant on the River Allt Coire Chaorach, 10 miles north of Loch Lomond. The project will generate around 8GWh of electricity each year, which could power roughly 1,900 homes.

In total, the money will fund up to 30 projects, generating enough electricity to power more than 17,000 homes. A range of renewable projects including onshore wind and biogas plants will be developed.

Mr Cable said: “Renewable energy is the future and we must continue to use all of the new and established technologies at our disposal to power our homes and businesses in a way that doesn’t damage the environment.”