ALBION Ventures has invested £1.3m in partnership with Wales developer Dragon Hydro to fund the development of a single 300kW hydropower scheme on the Afon Cadair river in the county of Gwynedd in Wales.
The site will benefit from the Feed-in-Tariff regime and is expecting to generate its first electricity in the third quarter of next year. The installation is forecast to generate an average 1,300MWh of electricity a year.
The investment is Albion’s seventh investment into renewable energy and continues its expansion into the sector. Dragon Hydro will provide funds managed by Albion with an attractive long-term yield as well as the potential for capital growth.