£60m hydro energy pledge from Sanjeev Gupta group

GFG Alliance, the $12 billion turnover conglomerate run by Sanjeev Gupta, has committed to investing a further

£60 million developing hydro power in Scotland after completing its acquisition of Green Highland Renewables, writes Kevin Scott.

The deal for Perth-based Green Highland Renewables (GHR) was announced in December and GFG has now revealed the hydro-power developer will be known as SIMEC Green Highland Renewables, forming part of the GFG Alliance’s energy division, The SIMEC Group.

Hydro is a core element in GFG’S strategy to expand its total UK green energy capacity to one gigawatt over the next three years.

The GHR acquisition has triggered a programme to build or upgrade 12 hydro schemes in the Highlands by 2021, some of which will be on GFG’S 114,000-acre estate, where it also plans to build a 400-worker alloy wheels factory next to its aluminium smelter at Fort William.

GFG said it was reviewing offering ownership opportunities to local communities as part of its broader community involvement. In addition to its hydro plans, SIMEC Energy is consulting with local communities in the Highlands on a proposal for a £150m subsidy-free wind farm at Glenshero, which will generate 164 megawatts of power.