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Invicta Capital launches £300m biomass fund

Invicta Capital, a provider of investment opportunities for private clients, has launched a £300 million fund dedicated to the construction and operation of an identified portfolio of biomass combined heat and power (CHP) plants in Scotland.

The portfolio is intended to consist of 9 medium sized biomass plants primarily located on existing industrial and business development parks or brown field sites in Scotland, with a total generating capacity of up to 90 MW of electricity.

The biomass plants will use established pyrolysis and gasification technology with the wood being supplied from local sustainable and managed sources audited by the Smartwood Sustainable Forestry Division of the Rain Forest Alliance. A Power Purchase Agreement is currently being negotiated with a UK utility for the purchase of electricity.

The biomass plants will be powered by locally sustainable and managed wood.

During the operation of the biomass plants, the fund will target a return of 8% post tax per annum to individual members.

Mohammed Yusef, CEO of Invicta Capital says: “The investment opportunity in renewable energy and in particular biomass is compelling; we have put together a world class team with sites already identified. There is long term government commitment to resolving the issues of climate change and energy security both in the UK and Europe backed by incentive plans making returns in this sector very attractive.”

Invicta Capital has brought together a consortium including New Park Management, a UK private sector developer of Science and Technology Parks. Based in Scotland, New Park will provide access to a number of development sites, planning advice and building management services. New Park and Invicta have created a joint venture (JV), Invicta New Park, to run the 9 biomass plants.

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