Scotland-based hydro projects developer Green Highland Renewables has obtained $3.3m investment from the Environmental Energies Fund of Scottish Equity Partners and Scottish Enterprise.
With the funds, the company will advance its growing hydro generation projects, and cater to its increasing clients in consulting, operation and maintenance services.
Green Highland Renewables MD Ian Cartwright said that hydro electric site development is a complex process, from prospecting to commissioning.
"It is therefore important that the company has access to substantial development capital to enable us to take advantage of the growing number of opportunities. This injection of capital means, in addition to servicing demand from our existing clients, we can actively seek out new clients potentially requiring help with site development," he added.
Scottish Equity Partners representative Tony Robison said, "Our investment will enable the company to expand its operations and cement its position as the leading Scottish-based developer of run of river hydro generation schemes."
Scottish Investment Bank acting head Kerry Sharp said, "Scotland has an ambition to source 100% of its electricity demand from renewable sources by 2020, and it’s companies like this, which are actively seeking more ways to increase our renewable energy output, that will help us achieve that ambition."
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