Hydro-power firm Green Highland Renewables has appointed Stephen Hutt as new chief financial officer as the Perth-based developer focuses on acquiring existing schemes and development sites.
Formerly chief executive of the Royal Highland & Agricultural Society of Scotland, Hutt has been tasked with helping the firm – which was acquired by infrastructure investors Ancala Renewables in 2015 – to build, acquire and grow a long-term hydro portfolio.
To date the firm has focussed primarily on developing its own hydro projects. The news is seen as a boost to a hit hard by recent UK tariff cuts.
Mark Mathieson, Chief Executive, Green Highland Renewables, said: “Stephen joins us at a time of change for the industry. The radical cuts in feed-in tariffs announced by the UK Government at Christmas were a heavy blow to the small-scale hydro sector in Scotland and signal an end to virtually all new schemes coming forward after 2017.
“We will continue to build out our pipeline of consented schemes and aim to use our expertise to own and operate a significant portfolio in the years ahead. Stephen has tremendous experience across a range of different sectors and I am confident he will make a very positive contribution to our business as it moves into this exciting new phase.”
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