Energy deal

Torishima sells Glendevon Hydro power scheme

Glendevon can power 100 homes for a year

Glendevon Hydro Scheme in Dollar, one of the first of its kind when it was built two years ago, has been acquired by Renfin & Hydropol Group.

The scheme, constructed by Glasgow-based Torishima Service Solutions Europe in partnership with Scottish Water, produces enough annual electricity to power 100 homes and save the equivalent of 93 tonnes of carbon dioxide.

Renfin & Hydropol Group is a specialist in development, installation, and operation of hydro projects across Europe and overseas. It owns 35 hydro schemes in the UK through development and acquisitions.

Harper Macleod advised Torishima on the transfer of the lease and the sale of the business and assets.

Tom Coutts, general manager, CWS & Projects, at Torishima Service Solutions Europe, said: “The transaction had its challenges over the past several months due to the complex nature of the sale containing three parties and two law firms.”

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