A small-scale wind energy developer has received £50million of private investment in an attempt to boost small wind energy projects across rural Scotland.
E-Gen, based in Berwickshire in the Borders, benefited from this private equity boost, which aims to establish hundreds of mini wind projects. The company makes “small” wind farms – from one to three turbines each farm – to supply domestic and business electricity. There are four sites currently going through the planning process and 25 more ready to be developed.
Private investors Rockfield Energy Investments will enable the firm to set up a new business, E-Gen Partners, to work in partnership with landowners and farmers to fund the development and construction of such projects.
The news was revealed on the eve of the Scottish Low Carbon Investment Conference in Edinburgh. The event attracts major financiers from around the world who are interested in green energy.
E-Gen has already created a digital mapping tool to find potential windfarm sites, where wind speeds, planning consent and grid connections are optimal. For landowners, the company will pay ground rent based on the number of turbines erected on their land.
Tom Forsyth, E-Gen’s chief executive, told The Scotsman: “We believe our business model can deliver big benefits to farmers and landowners across rural Scotland by adding value to their properties and boosting their incomes at no cost or risk to themselves.”
Of course, the news will also be welcomed by business electricity customers concerned about green energy generation.
Local renewable energy generation is seen by many as a way of keeping business electricity costs down in the future.
You can read the full story in The Scotsman