UK venture capitalist increases renewable energy options
Albion Ventures, a UK venture capitalist company, will launch a community-scale renewable energy company by raising up to £100 million (€117.4 million) in due course to power 35,000 UK homes.
The company, named Albion Community Power (ACP), is looking to raise £25 million this year from retail investors and family offices, exclusively through intermediaries, to invest in a range of renewable energy projects using proven technologies including biogas and biomass.
Albion states ACP’s projects will qualify for government subsidies such as Feed-in tariffs (FiTs) and Renewable Heat Incentives (RHIs). Albion has, to date, invested or is in the process of investing £32 million in renewable energy projects and £16 million of this is now producing energy and achieving an investment return of approximately 11%.