A £ 13million investment from the Scottish National Investment Bank, awarded to the Iona Wind Partnership, will speed up delivery of the Iona onshore wind pipeline in Scotland.
The Iona wind partnership, managed by Asper Investment Management, focuses on building 800 MW of onshore wind capacity by 2026.
When fully operational, the project will be able to generate clean, renewable energy and support the decarbonization of the Scottish energy sector, which is expected to save 600,000 tonnes of carbon dioxide per year.
Onshore wind is a key part of Scotland’s renewable energy mix and the Bank’s £ 13million investment aligns with its mission to support Scotland’s transition to net zero carbon emissions by 2045.
Eilidh Mactaggart, CEO 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. The Bank‘s investment has enabled Asper IM to reach the scale required to make the fund a reality.
“We are delighted to be working with Asper Investment Management, which is committed to investing in companies that develop, build and operate sustainable infrastructure and assets and that have a track record in developing onshore wind projects.
Luis Quiroga, Head of Investor Relations at Asper, said: “We are delighted with the support from the Scottish National Investment Bank to Iona. Asper’s 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, enough to power 850,000 homes with green energy. Asper’s sustainability goals for its investments also include building sustainable, sustainable and efficient assets, respecting and promoting natural habitats around projects, using only truly sustainable fuel sources, and sustaining communities. local around the projects.