Green Bank, Equitix whisky galore
Pulteney Distillery bio CHP acquired, to expand in £10m deal
The UK Green Investment Bank and Equitix are to acquire and expand a biomass plant and district heating scheme based in a whisky distillery in the far north of Scotland.
The partners have committed £9.8m to compensate existing owner Ignis Biomass Limited and extend the heating scheme to 150 new customers.
The existing 3.5MW combined heat and power facility supplies the Pulteney Distillery, residences owned by Cairn Housing and around 200 other domestic residences.
Expansion is due to be online by March 2017. Plans are also in place for the implementation of at least four new smaller-scale standalone CHP systems for major heat users in and around Wick, typically in the care home sector.
Equitix fund Energy Savings Investments, in which GIB is a cornerstone investor, has committed £4.8m to the project. An additional £5m of private capital has been mobilised from the Equitix Energy Efficiency Fund.