July 17, 2013 / 10:13 AM / 4 years ago

Green bank helps to finance Scottish whisky biomass project

LONDON, July 17 (Reuters) - Britain’s Green Investment Bank plans to provide almost half the financing for a 1.2 million pound ($1.8 million) biomass boiler at the Tomatin whisky distillery in Inverness, Scotland.

The bank formed with 3.8 billion pounds of government funding is designed to spur private investment in clean energy projects to help Britain to meet its targets for emissions reduction and renewable energy.

The first 576,733 pounds of financing for the biomass boiler will be made through the Equitix-managed Energy Saving Investments fund, in which Green Investment Bank is an investor.

A further 600,274 pounds should be provided by the Equitix Energy Efficiency Fund (EEEF), the bank said.

The boiler will be fuelled by wood pellets to produce steam used in whisky production.

It is estimated that the distillery could reduce carbon dioxide emissions by 96,500 tonnes over the project’s 20-year lifespan. ($1 = 0.6613 British pounds) (Reporting by Nina Chestney; Editing by David Goodman)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below