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1. Green Investment Bank announces funding for
biomass boiler at Scottish distillery

2. The UK Green Investment Bank (GIB) has
announced its contribution towards a fund of
£576, 733 which will finance the installation of a
biomass boiler at a Scottish whisky distillery near
Inverness. The GIB is a cornerstone investor with
the Equitix managed fund Energy Savings
Investments (ESI) and the funding forms part of a
£1.2 million investment with another £600,274
being provided by the Equitix Energy Efficiency
Fund (EEEF). The investment is being made in
partnership with Balcas Limited, a company that
manufactures wood pellet biomass.

3. The ESI fund is part of GIB’s allocation of investment funds for one
of its priority sectors, energy efficiency. The bank awarded the
competitive fund mandate to Equitix to invest £50 million, matched
by private investors, in order to drive investment in small-scale low
carbon infrastructure requiring less than £30 million of financing.
Equitix has also established EEEF to make investments into the
energy efficiency sector, including as co-investors alongside ESI.
“I am pleased to be able to announce our first Scottish investment”
said Shaun Kingsbury, Chief Executive of the UK Green Investment
Bank. “As well as significant emission reductions, the project will
provide a boost to the local economy. We have a strong pipeline of
investments in Scotland and hope to be able to announce further
investments in Scottish distilleries, as well as other projects, very
soon.”

4. The boiler replaces a high maintenance, inefficient oil fired boiler
and will replace around 80 percent of the heat load generated by
the old boiler. It will take over the generation of steam that is
utilised in the production of whisky at the distillery which is located
16 miles south of Inverness. The new boiler will be fuelled by
sustainably sourced wood pellet fuel and is expected to reduce
carbon dioxide emissions by over 96,500 tonnes over the 20 year
life of the investment. This will help the distillery to make significant
savings on their energy bills as well as supporting the green
economy and reducing carbon emissions. The wood pellets will be
of EN plus A1 Standard pellets manufactured by Balcas using
renewable electrical and thermal energy and raw materials sourced
from local, sustainably managed forests by Balcas at their plant at
Invergordon. This will in turn generate local jobs and support the
support the supply chain.

5. “This is the second deal that Equitix has closed in which GIB has
invested with the Equitix Energy Efficiency Fund as the private
sector co-investor” added Geoff Jackson, Chief Executive Officer of
Equitix. “We are pleased to be able to add a positive economic and
environmental impact to this area in Scotland. Equitix continue to
source a pipeline of high quality opportunities for investment by
GIB and expect to deploy further capital in this region in the near
future.”
http://www.quora.com/Hayati-Razaka/Posts/Green-Investment-
Bank-announces-funding-for-biomass-boiler-at-Scottish-distillery