Green Highland Renewables Ltd., a UK developer of small hydropower plants, started building a £3million ($5million) facility in northern Scotland.
The 750-kilowatt project being funded by Triple Point Investment Management LLP near Loch Garry is the third facility the company has started building this year. It’s expected to begin operations in 2015, Perth, Scotland-based Green Highland said today in a statement.
“We have so far consented 45 projects across Scotland and we are now entering a very active phase as we start to build out and deliver these approved schemes within the FIT accreditation windows,” said Richard Round, the firm’s chief executive officer.
The project is one of a number being developed by Green Highland Renewables on land managed by Forestry Commission Scotland as part of a framework agreement.
For this scheme the local community will receive an annual royalty in addition to the industry-standard community benefit of £5000 per MW per annum.
