Biomass project targets Scottish electricity grid
Founded in 2001 by CEO and chairman Mohammed Yusef and managing director Niall Bamford, Invicta Capital has come up with an interesting investment proposition in biomass. The latest scheme by the company, which has so far raised over £1.3 billion, is the Invicta Biomass Fund. The idea behind it is a project to fund and build a biomass electricity-generating plant.
Project manager is Invicta Capital with NewPark as the operator undertaking site management and plant operation. Technology is from Organics, a waste management specialist, with the engines supplied by GE. Guarantees for the engines with a staged payment scheme are also in place.
Scottish and Southern Energy, one of the largest energy companies in the UK, has signed a five-year fixed-power purchase agreement for electricity generated by the plant. Forestry management company Feedstock Timber
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