WORKING TOGETHER FOR INVESTMENT FEATURE SPONSOR PROGRESS
£40MILLION CONTRACTS INVESTMENT
Scottish developers Intelligent Land Investments (Renewable Energy) are negotiating almost £40million worth of contracts with investors from Europe and England for onshore single wind turbine developments.
In the wake of the decision in the Scottish independence referendum, a number of big players in the renewables sector from outside the country have come forward with ambitions to enter into formal partnerships with the company, which is based in Hamilton, Lanarkshire, Scotland.
FOCUS
ILI RE is an investment management company with a focus on the creation of planning gain for landowners and leaseholders through renewable energy projects such as onshore wind generation and hydro projects in Scotland. The company secures prime strategic sites for renewable energy installations and uses its expertise to steer through local authority planning processes. Once this is achieved and the site developed, a guaranteed revenue is created for the client through the government- controlled feed-in tariff programme, under which the power generated can be sold and channelled to the national grid.
To date, 76 planning applications on behalf of landowners and leaseholders – many of them farmers – have been consented and a significant number of other applications are at different stages within council planning procedures at the moment.
The outside investors come into the equation once the application has been granted. This is due to the fact that many landowners cannot afford the high cost of the overall development, which can run into millions of pounds and which involves the purchase of a turbine, ground excavation and preparation, equipment installation and the construction of other infrastructure and services.
ATTRACTIVE FINANCIAL RETURN With the approval of the landowner, the investor purchases the formal consent agreement from ILI RE and agrees to pay for all development costs on behalf of the landowner in return for a 90 per cent share of the revenue on a long-term basis. The 10 per cent share for the landowners makes for an attractive financial return without any additional investment for them.
Mark Wilson, CEO of ILI RE, has revealed that five significant organisations – two from Spain and one each from England, Portugal and Germany – whose identities cannot be revealed at this stage due to reasons of commercial confidentiality, have entered the Scottish market and are looking to partner with his company.
REMOVING UNCERTAINTY He said: “Now that the uncertainty over Scotland’s future has been settled in the referendum, the renewables market has turned a corner, and investors who were holding back are now committing to numerous projects in our country. I see this as a great time for Scotland, as the momentum for achieving renewable energy goals is really getting traction.
“We are seeing directly all the good that these turbines are bringing. Not only do they give a much-needed lifeline to the farming community but local contractors are getting the majority of the construction work, meaning significant funds are going directly to the local community. All these positives before we even consider the benefits to the environment.
SCORE FUNDING
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www.windenergynetwork.co.uk
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