The site will benefit from the Feed-in-Tariff regime and is expecting to generate its first electricity in Q3 2013. The installation is forecast to generate an average 1300MWh of electricity per year, enough to power up to 300 households.
This investment is Albion’s seventh investment into renewable energy and continues Albion’s strategy of expanding into this sector. “We are extremely pleased to make our first hydro investment with Dragon Hydro as we continue to diversify our holdings across a range of renewable energy technologies,” said Michael Kaplan, Partner at Albion Ventures. “This investment highlights Albion’s continued commitment to the renewables sector. The investment will provide attractive long-term returns for our shareholders. Hydropower is the oldest renewable technology and we are very pleased that the government continues to support small-scale hydro through Feed-in-Tariffs.”
MorbenHydro, a specialised hydro engineering firm is acting as consultant to the project.
