Ancala Renewables, an infrastructure investment vehicle managed by Ancala Partners, has acquired Scottish hydro developer Green Highland Renewables.
The acquisition is expected to provide Green Highland Renewables with additional capital to support the continued growth of the business. The firm currently has an operational portfolio of 4.2MW with a further 21.9MW in development.
"This is very positive news for Green Highland Renewables and the small-scale hydro sector in general," commented Richard Round, Green Highland Renewables Chief Executive Officer. "Well constructed and financed hydro schemes offer stable long term returns and this is clearly attractive to institutional investors. Ancala Partners has given us a strategic mandate to secure further development opportunities in order to grow our operational asset base. Their backing will enable us to build on our portfolio both organically and through acquisition."
The new owners take over from previous shareholders including technology investor Scottish Equity Partners and the Scottish Investment Bank.
