Triple Point Energy Efficiency Infrastructure Company has acquired six hydropower assets in Scotland with a total installed capacity of 4.1MW, all of which have five years or more of operational performance history. The six plants, all feed in tariff accredited, ‘run of river’ projects were acquired for £26.6 million (excluding costs).
The company said it continues to have exclusivity to acquire a further three hydro assets, valued up to £19.7 million and it is expected that these additional projects will be acquired in Q1 2022.
The hydro assets have a remaining FiT period of 14 years, and a useful life beyond that of 20 years, during which they will be operated as unsubsidised assets selling power to the grid through PPAs.
The assets have an operations and maintenance contract with Green Highland Renewables.
The investment manager has identified a number of opportunities to optimise the efficiency of the Hydro Assets, in particular, to help to regulate the flow feeding existing intake, protecting against periods of unusually high or low rainfall, thus increasing overall generation.