A US$5.27 million investment from the Scottish Equity Partner's Environmental Energies Fund will allow hydropower developer Green Highland Renewables to continue expanding its business.
Green Highland Renewables says the funding, which also came in part from investing firm Scottish Enterprise, will be used for its "growing pipeline of hydro generation sites as well as servicing the increasing demand it is experiencing from clients for consulting, project management, and operation and maintenance services."
The company was founded in 2007 and specializes in the development of run-of-river projects that range in capacity from 100 kW to 2 MW.
"This injection of capital means, in addition to servicing demand from our existing clients, we can actively seek out new clients potentially requiring help with site development," says Ian Cartwright, managing director. "These schemes, once completed, can provide landowners with long-term, relatively risk-free income."
HydroWorld.com reported in August 2008 that Scottish and Southern Energy (SSE) had acquired a 33% stake in the Perth-based company.
