The chief executive of the small-scale Scottish hydro-electric company taken over by Ancala Renewable says the move is a positive deveopment for the sector.
The new owners take over from previous shareholders including leading technology investor Scottish Equity Partners and the Scottish Investment Bank.
The sale provides Green Highland Renewables with additional capital to support the continued growth of the business, already the leading independent hydro developer in Scotland. To date it has achieved a 100 per cent success rate in gaining planning consent for over 50 hydro schemes with approximately 40MW capacity. The company also has over 35MW in its development portfolio.
Richard Round, Chief Executive, Green Highland Renewables, commented. “The sale is positive news for Green Highland Renewables and the small-scale hydro sector. Well-constructed and financed hydro schemes offer stable long-term returns and this is clearly attractive to institutional investors.”
Danny Lee – Partner who led the Shepherd and Wedderburn team in the sale of Green Highland said: “Having supported Green Highland Renewables with the development of its significant pipeline of run-of-river hydro projects, as well as advising on the funding of a number of consented projects, we are delighted to have been part of a success story in the UK renewables sector.
“We look forward to supporting an exceptionally strong management team as they continue to grow the business with the backing of Ancala.”