Tags

11 March 2009, New Energy Finance

British Waterways To Invest USD 166m Over Three Years To Build Small Hydro Schemes

British Waterways, the public organisation that cares for 2,200 miles of UK's canals and rivers, has agreed with The Small Hydro Company to develop about 25 small-scale projects to generate electricity.
In a statement, British Waterways said that it would invest GBP 120m (USD 166m) of private capital over a period of three years, to build these schemes, which will be developed by Oxfordshire-based The Small Hydro Company.

Backed by Climate Change Capital's Ventus Fund, the process of gaining consents for the first five hydro schemes alongside river weirs will begin later this month, a spokesperson for British Waterways said.

Energy and climate change secretary Ed Miliband said, "The Renewables Obligation already supports renewable electricity generation and from 2010 we'll be introducing a feed-in tariff which will reward projects like this with guaranteed cash payments."

For more information on the deal, please contact the communications team.

Web site design & development by Reflection Marketing