START A PETITION 27,000,000 members: the world's largest community for good
START A PETITION
x
Jul 24, 2013

http://www.renewableenergymagazine.com/article/green-investment-bank-announces-funding-for-biomass-20130723

The UK Green Investment Bank (GI has announced its contribution towards a fund of £576, 733 which will finance the installation of a biomass boiler at a Scottish whisky distillery near Inverness. The GIB is a cornerstone investor with the Equitix managed fund Energy Savings Investments (ESI) and the funding forms part of a £1.2 million investment with another £600,274 being provided by the Equitix Energy Efficiency Fund (EEEF). The investment is being made in partnership with Balcas Limited, a company that manufactures wood pellet biomass.

The ESI fund is part of GIB’s allocation of investment funds for one of its priority sectors, energy efficiency. The bank awarded the competitive fund mandate to Equitix to invest £50 million, matched by private investors, in order to drive investment in small-scale low carbon infrastructure requiring less than £30 million of financing. Equitix has also established EEEF to make investments into the energy efficiency sector, including as co-investors alongside ESI.

“I am pleased to be able to announce our first Scottish investment” said Shaun Kingsbury, Chief Executive of the UK Green Investment Bank. “As well as significant emission reductions, the project will provide a boost to the local economy. We have a strong pipeline of investments in Scotland and hope to be able to announce further investments in Scottish distilleries, as well as other projects, very soon.”

The boiler replaces a high maintenance, inefficient oil fired boiler and will replace around 80 percent of the heat load generated by the old boiler. It will take over the generation of steam that is utilised in the production of whisky at the distillery which is located 16 miles south of Inverness. The new boiler will be fuelled by sustainably sourced wood pellet fuel and is expected to reduce carbon dioxide emissions by over 96,500 tonnes over the 20 year life of the investment. This will help the distillery to make significant savings on their energy bills as well as supporting the green economy and reducing carbon emissions. The wood pellets will be of EN plus A1 Standard pellets manufactured by Balcas using renewable electrical and thermal energy and raw materials sourced from local, sustainably managed forests by Balcas at their plant at Invergordon. This will in turn generate local jobs and support the support the supply chain.

“This is the second deal that Equitix has closed in which GIB has invested with the Equitix Energy Efficiency Fund as the private sector co-investor” added Geoff Jackson, Chief Executive Officer of Equitix. “We are pleased to be able to add a positive economic and environmental impact to this area in Scotland.  Equitix continue to source a pipeline of high quality opportunities for investment by GIB and expect to deploy further capital in this region in the near future.”

Visibility: Everyone
Posted: Wednesday July 24, 2013, 8:32 pm
Tags: green bank scottish at for funding investment distillery announces biomass boiler [add/edit tags]

Group Discussions
Comments
Or, log in with your
Facebook account:

Author

Mike Oride
male ,
USA
MIKE'S SHARES
Sep
16
(0 comments  |  discussions )
\nThe Environmentali sm Movement has become a powerful and wealthy cult like phenomenon. It has little to do with improving the environment, it is all about power and money and is costing all of us dearly.\r\n\nWe have those who travel the world ...
Sep
3
(0 comments  |  discussions )
\n\nhttp://www.salon.com/ 2013/09/01/south_pacific_ president_became_environm ental_darling_by_lying_ab out_conservation_partner/ singleton/Meet President Anote Tong of Kiribati, a Central Pacific country of three-dozen postcard-pretty coral atolls...
Aug
22
(0 comments  |  discussions )
\nhttp://crownalliancecap ital.com/about/Providing strong investment opportunities in the emerging longevity market.\r\nCrown Alliance Capital Limited (OTCBB:CACL) is a publicly reporting Nevada Corporation formed March 4, 2010. Formerly known as Kinetic ...
Aug
16
(0 comments  |  discussions )
\nhttp://blogs.seattletim es.com/today/2013/08/city -releases-draft-environme ntal-impact-statement-on- proposed-sodo-arena/The city of Seattle today released the draft environmental impact statement for the proposed sports and entertainments arena in the ...


SHARES FROM MIKE'S NETWORK
No shares


MORE MEMBER BLOGS
Mar 31
Blog: How to Extend the Life of your TRIAD Boilers by Kayleigh L.
(0 comments  |  discussions ) — \\nHow to Extend the Life of your TRIAD Boilers \\r\\n \\r\\nCorlis Engine Review\\r\\nEvery user desires to prolong the life of a unit. TRIAD assists their clients in achieving this important objective by informing them of ways they can avoid problems... more
Feb 27
Blog: Dr Oz Weight Loss - The 100% Natural And Very Efficient Diet Pill by Debra S.
(0 comments  |  discussions ) — \\nYes, Dr. Oz called Garcinia Cambogia Extract (HCA) the Holy Grail of Weight Loss. He went on to say, “Anytime I see a scientist get this excited about something like Garcinia Cambogia Extract and when I looked through some of this research and... more
Blog: My Favorite Websites by krysta I.
(0 comments  |  discussions ) — \\nIFAW: www.ifaw.org\\r\\nOCEANA www.oceana.org\\r\\nPETA: www.peta.org\\r\\nEARTH 911: www.earth911.org\\r\\nANI MALs ASIA: www.animalsasia.org\\r\\n \\r\\n\\r\\n\\n more
Feb 21
Blog: testing one two three by Geoff M.
(0 comments  |  discussions ) — hello world more
Blog: Garcinia Cambogia Reviews From Actual People Garcinia Pure Extract Is A Huge Success February 20 by Dany M.
(0 comments  |  0 discussions ) — \\nGarcinia Cambogia Reviews From Actual People Garcinia Pure Extract Is A Huge Success February 20\\r\\nGarcinia Cambogia System The Dr. Oz Lose Weight Quick Process Without Having Side Effects\\r\\nHe went on to say, “At any time I see a researcher... more
 
Content and comments expressed here are the opinions of Care2 users and not necessarily that of Care2.com or its affiliates.