Triple Point, the private investment specialist, today announced that is has agreed the funding for its sixth hydro-electric scheme with Green Highland Allt Phocachain (1015) Limited.
Under the funding agreement Green Highland Allt Phocachain (1015) Limited has received £2m to construct, own and operate a hydro-electric scheme on the Allt Larairidh river in Glen Moriston, Invergarry, in the Scottish Highlands.
The new Allt Larairidh scheme takes the total number of hydro-electric projects funded by Triple Point to six, with a combined generation capacity of approximately 4.25MW. Construction of this project has already begun and is scheduled to take 12 months.
Commenting on the completion, Ben Beaton Head of Investment at Triple Point, said:
“We were the first firm to raise a specialist hydro-electric fund and this new investment strengthens our position as the VCT market leader in the Hydro sector. We have now invested £14 million across six projects, working closely with the specialist developer Green Hydro Renewables (GHR) for the last four years. For our investors this is great news as they are able to benefit from the long-term, index linked revenues of the Feed-in Tariff regime.”
Triple Point has a pipeline of further opportunities ready to start construction and is currently raising funds through Hydro VCT to finance the projects.
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