Ancala Partners, the London-based green-ish infrastructure investment vehicle, is selling a Scottish renewable energy generator which it bought 30 months ago in a move which has puzzled the market.
Ancala has sold its hydro power renewables business, Green Highland Renewables for an undisclosed sum to SIMEC, the energy arm of the metals and industrials group, the GFG Alliance.
Ancala acquired GHR, which has two offices in Perth and Dingwall, Scotland, in April 2015 as a platform to consolidate in the fragmented British hydro sector. Since then, Green Highland Renewables has quadrupled in size and currently has 18 operating projects with a total capacity of over 23 MW and another four under development with a total capacity of 8 MW.
Earlier this year, Ancala announced that it had obtained £51 million of debt facilities for Green Highland Hydro, the asset ownership vehicle for hydro power assets developed by GHR.
Spence Clunie, Managing Partner, Ancala Partners said only: “Our strategy of transforming GHR into one of the leading independent owners and operators of hydro plants in the UK has been successful.”
5 Dec 2017