Displaying items by tag: Distillery

A £1.2-million investment is to be made between Green Investment Bank (GIB) and Equitix in partnership with Balcas to install a steam generating biomass boiler at Tomatin Distillery near Inverness.

The Equitix managed fund, Energy Saving Investments (ESI), in which the GIB is a cornerstone investor, is providing £576,733 to finance the installation of a biomass boiler at Tomatin Distillery near Inverness.

This £1.2 million investment, GIB's first in Scotland, mobilises a further £600,274 of investment from the Equitix Energy Efficiency Fund (EEEF).

The investment is being made by ESI in partnership with Balcas Litd, a UK manufacturer of wood pellet biomass.

GIB awarded the competitive fund mandate to Equitix to invest £50 million, matched by private investors, 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.

The boiler installation at Tomatin Distillery, 16 miles south of Inverness, produces steam used in the production of whisky. The boiler, manufactured by a major European manufacturer, replaces an oil-fired boiler.

The new boiler will replace 80% of the heat load usually generated by the oil fired boiler. It will be fuelled by 'sustainably sourced' wood pellet fuel and could cut CO2 emissions by over 96,500 tonnes over the 20-year life of the investment.

It will use '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.