The recent sale of Pitnacree Hydro Scheme, a 300kW run-of-river hydro scheme in Perthshire demonstrated the continued interest in renewable assets which have outstanding eligibility for the government’s Feed in Tariff.

Pitnacree hydro scheme was commissioned in 2015 having been developed under leasehold arrangements with various landowners. The scheme operates at a high level of efficiency with annual output in the order of 1,100,000 kWh and generating revenues approaching £500,000 in the last accounting year.

We are fortunate in having a substantial ‘black book’ of parties who have a potential interest in renewable assets and whilst Pitnacree was quite a small scheme which excluded a portion of the market, there was significant interest from a wide variety of parties who came forward with offers to purchase the assets.

Following a process, a preferred bidder was identified and the sale was completed after appropriate due diligence.