Green Highland Renewables, a portfolio company of Ancala Partners, has now acquired or commissioned 11 projects that generate a combined 16MW, following completion of its latest hydro scheme at Loch Eilde Mor in the Highlands, Scotland.
The 2MW hydroelectric project is worth £13.6 million ($17.7 million; €15.9 million). The firm said in a statement the UK hydro sector can deliver attractive, low-volatility returns.
Ancala invested in Green Highland in 2015 to target the opportunity in this sector.
Earlier this year, Ancala raised £51 million of debt facilities to invest in hydro projects – this has been used to support the construction of new projects and refinance capital invested in operational assets.
The firm also closed its Mid-Market Infrastructure Platform in January on £400 million after securing capital predominantly from UK-based pension funds.
This week, Ancala said it hired two people for its asset management and investment teams – Charles Herriott, from Dutch fund manager DIF, and Christopher Lee-Evans, who has joined as an analyst with the investment team from Equinox energy Capital, where he covered renewables.