£300 million biomass fund launched

Invicta Capital, a leading provider of investment opportunities for private clients has launched a new £300 million fund dedicated to the construction and operation of an identified portfolio of biomass combined heat and power (CHP) plants in Scotland.

New Park worked with Invicta Capital to identify this portfolio of potentially nine medium sized plants primarily located on existing industrial and business development parks or brown field sites in Scotland, with a total generating capacity of up to 90MW of electricity, enough to supply 140,000 homes. The plants will be powered by locally sourced sustainable and managed wood.

New Park has now partnered with Invicta Capital to provide access to a number of the identified development sites, planning advice and building management services. New Park is part of the Scottish Enterprise Energy Technology Centre consortium, a group supporting innovation and commercialisation of renewable energy technologies. Together, New Park and Invicta have created a joint venture (Invicta New Park Limited) to run the nine plants.

New Park Director Neil Robertson commented “The development of these nine CHP plants with Invicta Capital is a natural extension of our desire to nurture new technology through Science and Technology Parks, working in partnership to bring sustainable jobs to fragile communities such as Caithness.”