Infrastructure investment manager Ancala has completed a new hydropower scheme at Loch Eilde Mor in Kinlochleven, Scotland, bringing to 11, and to 16MW, the number of projects commissioned or acquired through its portfolio company Green Highland Renewables.
The 2MW, £13.6 million scheme is a high-head run-of-river, project and gives GHR storage capacity due to the loch-fed nature of the project.
Since Ancala invested in GHR in April 2015, the company has experienced significant growth, which has included the development of nine hydro schemes and the acquisition of a further two hydro sites. Spence Clunie, Managing Partner, Ancala Partners, commented, “Prior to our investment, GHR was largely a development focused company but now it is also a portfolio owner and operator of a high quality and diversified portfolio of hydro assets.”
Earlier this year, Ancala announced that it had raised £51 million of debt facilities for Green Highland Hydro, the asset ownership vehicle for hydro power assets developed by GHR. The facility has been used to support construction of the schemes and refinance capital invested in operational assets.