- Construction completed in Q2 2021
- 1,900 tons of carbon savings per year
- Highlights Kyotherm’s commitment to supporting the transition towards sustainable energy, despite prevailing market conditions
Paris, 21st April 2021 – Kyotherm, an investment firm that provides third party finance for renewable heat projects, has funded the construction of two biomass installations in Scotland. Kyotherm has conducted this project in collaboration with Highland Energy Supply Co (HESCO), a local heating supplier and partner.
The two plants will supply heating and domestic hot water to new-built district heating networks. The heat will warm various hotels and homes in the Highlands region. Kyotherm brings its financial support to the project as well as its technical and contractual expertise.
1,900 TONS OF CO2 SAVED PER YEAR, USING BIOMASS
The two projects will generate c. 6,000 MWh of low-carbon heat per year, thus enabling its clients to dispose of aging oil boilers. Consequently, the carbon savings generated are estimated to be about 1,900 tons of CO2 per year. This operation will thus offset the equivalent of 350 UK citizens’ annual CO2 emissions.
A STRONG PARTNERSHIP WITH THE HIGHLAND WOODCHIP COMPANY GROUP
The engineering, procurement and construction of both biomass systems as for the related heat networks have been provided by HWC.
In fact, the project reinforces the long-term partnership between Kyotherm and the HWC Group. Kyotherm has indeed already funded 2 biomass projects for Central Woodchip Company, another HWC group company.
HWC and HESCO will work in close collaboration in order to ensure the operational performance and day-to-day maintenance of the assets. HWC will also be in charge of the biomass fuel supply. For Kyotherm, this project will a be another example of its ability to build strong business relations with historical partners, and of its asset management capabilities.
Clovis Parmentier, Senior Investment Manager at Kyotherm, comments: “This operation highlights our continued commitment to sustainability and relentless activity, as Kyotherm continues to look for investment opportunities to support the sustainable energy transition in the UK”.