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The 820kw scheme on land at the Lochrosque Estate near Achnasheen is expected to be completed in March 2015. The electricity it generates will provide power for up to 400 homes.
The revenue created by the scheme will help to secure the future of the estate and valuable local jobs in this remote area of Scotland.
Randal Wilson, the scheme’s principal, is a longstanding farming client of the bank’s Business and Private Banking Centre in Perth. As well as farming land in Perthshire, the Family also has an Estate acquired by Randal’s father in the 1960s at Lochrosque.
The project will see the development of a state-of-the-art hydro-electric scheme that will create income streams for the estate, secure local jobs and also generate low carbon electricity for up to 400 homes.
Randal Wilson said: “I have been with the Bank for twelve years and we have built up a good working relationship. They helped me buy a neighbouring farm in 2005 and I have found them flexible and understanding.
"When I started thinking about hydro I spoke to my business manager Alex Young and when we were ready to get going I was introduced to their Renewable Energy Sector Specialist Adam Heslop, who took on this project on behalf of the Bank. It was a complex process, but we have come out the other side now and are building our 820kw hydro scheme. Our solid relationship is set to continue for the foreseeable future."
Adam Heslop, Business and Private Bank Business Development Manager in Edinburgh said:"The Bank has funded several renewable energy projects across Scotland and we are very keen to do more through both new and existing clients."
"In relation to hydro, this is one of seven we have funded in the last 12 months, as a result of our sector expertise and proven track record. This is the first hydro scheme the estate has undertaken and it is considering further projects."
In relation to hydro, this is one of seven we have funded in the last 12 months, as a result of our sector expertise and proven track record. This is the first hydro scheme the estate has undertaken and it is considering further projects.Dave Walker, Financial Director of Rigmar Services
Your digital services have had a Virgin Money makeover. Make the move today by using the new Virgin Money internet banking service.
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Your digital services have had a Virgin Money makeover.
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