New deal helps Scottish renewables
Wealthy Chinese investing in UK wind turbines
One of China’s major advisory firms, China ZhuangHe Investment, is investing its clients funds into turbines designed by Orenda Energy Solutions.
The deal has been backed by Scottish Development International and the China Britain Business Council. China ZhuangHe is providing £2 million to enable Canadian-Scottish Orenda to install its wind turbines at UK sites.
There is a guaranteed 8% annualised return on the invested cash with the loan repaid in its entirety by the seventh year.
With a growing number of rich Chinese individuals eager to invest money in the UK, Orenda’ Energy’s chief executive Gerry Lalonde sees far reaching benefits from such deals.
“We have proved this investment is robust and capable of excellent returns,” he said. “We already have a consortium of US Investors broadening their asset portfolios and securing Orenda’s turbine as a financial investment vehicle which should realise a significant rate of return over a 20 year period.
“We have structured a broadly similar deal for wealthy Chinese individuals and have a number of investor ready consented sites procured and available to them.
“Any clients of China ZhuangHe Investment interested in this deal will have a ready-made opportunity to gain a profound foothold in the UK and capitalise on the extremely healthy return on investment in a short/medium timeframe. Moreover, we will offer them complete performance guarantee, plus all risk insurance package including loss of income.”
James Brodie, Scotland manager at the China-Britain Business Council, said: :”We are delighted to have introduced Orenda Energy to CZH. At the beginning of this year, for the first time ever, China’s outbound investment exceeded its inbound investment and China’s high net worth individuals are an important part of this new development.
“This is a great example of how exciting investment opportunities in Scotland are beginning to catch the attention of Chinese entrepreneurs and is testament to Orenda’s global outlook and innovative approach.”