A Scottish renewable energy consultant and service provider has hailed its role in a massive energy program in the United States.
Natural Power, headquartered in Castle Douglas, acted as technical due diligence advisor to Harbert Infrastructure for its up to $400 million investment in DE Shaw Renewable Investments (DESRI) to support its operations in the sector renewable energy in the United States.
Claude Estes, Head of Investments at Harbert, said: “We have known and collaborated with the DESRI team for several years, in multiple capacities. He has decades of performance experience in developing, owning and operating contracted renewable energy projects.”
He continued, “Massive growth in renewable energy generation capacity is needed to facilitate the energy transition and DESRI’s disciplined, consistent and strategic approach to development is something our group has immense respect for. We are delighted to officially call them our partner.”
Herbert has developed, acquired, owned and operated infrastructure assets in the United States and Canada for more than 35 years and currently manages investments in power generation assets totaling seven gigawatts of gross capacity.
Jim Adams, President of North America Operations at Natural Power, said, “2022 continues to be a very active year for renewable energy M&A activity in the United States, and Natural Power has been delighted to support Herbert in this important investment in a leading developer, owner and operator.
From its three US offices in New York, Seattle and the Denver area, the Natural Power team assists a range of clients including institutional investors and banks, developers, asset owners, power producers and utilities, as well as government organizations, providing services across the region and beyond.
To date, Natural Power’s US team has provided due diligence services on over 100 GW of renewable energy projects, including over 20 GW so far in 2022.
SHARES in Royal Bank of Scotland owner NatWest Group jumped more than 7% in morning trading after revealing plans to return large sums of money to investors.
The bank this morning announced an interim dividend of 3.5p per share, up 17%, alongside a special dividend of £1.75bn, worth 16.8p per share.
ONE of Scotland’s oldest licensed distilleries is planning a £30m expansion to help meet growing global demand for its single malts.
Global beverages group Brown-Forman, owner of the GlenDronach distillery in Aberdeenshire’s Forgue Valley, said the investment follows a tripling in demand since 2016.