The Scottish National Investment Bank has supported the Iona Wind partnership to the tune of £ 13million.
The partnership, managed by Asper Investment Management, focuses on building 800 MW of onshore wind capacity by 2026.
When fully operational, the project should be able to generate renewable energy to support the decarbonization of the Scottish energy sector, which is expected to save 600,000 tonnes of carbon dioxide per year.
Eilidh Mactaggart, Managing Director of the Scottish National Investment Bank, said: “The Iona Wind partnership has the potential to deliver renewable energy to up to 850,000 homes and significantly reduce emissions and supports the net zero mission of the bank.
“Onshore wind development in the UK has stalled since the removal of subsidies in 2015, so the bank‘s investment has enabled Asper to reach the scale required to make the fund a reality. . ”
The bank has previously supported environmentally focused companies such as thermal storage technology company Sunamp, tidal power company Nova Innovation, and electric vehicle charging network operator Forev, among others.
Luis Quiroga, Head of Investor Relations at Asper, said: “Our expertise is to build the new infrastructure for the energy transition, and Iona’s investments will make a crucial contribution to Scotland’s future – helping to decarbonize its energy supply and boost the Scottish economy.”
Asper estimates that 12,800 kilotons of carbon dioxide will be saved by Iona’s assets over their lifetime, sufficient to power 850,000 homes.
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