The acquisition provides Green Highland Renewables with additional capital to support the continued growth of the business.
Green Highland Renewables is already the leading independent hydro developer in Scotland and currently manages its own operational portfolio of 4.2 MW with a further 21.9 MW in development.
Richard Round, Green Highland Renewables Chief Executive Officer, stated:
“This is very positive news for Green Highland Renewables and the small-scale hydro sector in general.”
“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 leading technology investor Scottish Equity Partners and the Scottish Investment Bank.