Scottish Wind Project Gets $79m financing

26 September 2010 (Last Updated September 26th, 2010 18:30)

Scottish wind developer e-Gen has received funding up to £50m ($79m) from Rockfield Energy Investments for developing a cluster of small-scale wind projects. Rockfield Energy Investments is a team backed by Bregal Capital, a London-based private equity firm. A new company, e-G

Scottish wind developer e-Gen has received funding up to £50m ($79m) from Rockfield Energy Investments for developing a cluster of small-scale wind projects.

Rockfield Energy Investments is a team backed by Bregal Capital, a London-based private equity firm.

A new company, e-Gen Partners, has been set up to focus on wind projects generating between 500kW and 1.5MW across rural Scotland, according to the Financial Times.

The new firm will work with farmers and landowners, paying an annual ground rent to the landowner based on the number of turbines, in exchange for a 20-year plus lease of their land.

e-Gen Partners already has four sites in the planning process and 25 sites agreed in principle with individual landowners.

A typical site for e-Gen will house between one and three 55m hub-height wind turbines and a two-turbine site will generate 1.5MW of energy.

e-Gen chief executive Tom Forsyth told FT that the investment from Rockfield Energy would allow e-Gen to move quickly to capture the certainty of receiving feed-in tariffs from utility groups before they were reviewed in 2012.