Railpen, a leading pension manager in the UK, and GreenPower, an independent renewable energy company based in Scotland, have announced a joint venture.
They will be working together to develop the Barachander onshore wind project, which is expected to generate approximately 66 MW of power in North Argyll.
This new initiative marks a continuation of the successful partnership between the two organizations. They are already co-owners of the Carraig Gheal wind farm, which has an operational capacity of 46 MW.
The Barachander project, located nearby, is considered the ‘sister’ project to Carraig Gheal and is currently in the pre-planning consultation phase, with plans to submit a formal application later this year.
Expanding Railpen’s Green Energy Portfolio
The Barachander project is a significant addition to Railpen’s growing portfolio of green energy investments.
This project reflects Railpen’s commitment to generating stable, long-term returns for its members while also making a positive environmental impact.
With Barachander, Railpen will contribute to providing renewable energy for over 250,000 homes across its portfolio of green energy assets.
A Partnership for Local and National Impact
Rob Forrest, CEO of GreenPower, emphasized the positive nature of the collaboration with Railpen. He highlighted the unique opportunity for a Scottish independent company and the UK’s railway workers to combine resources.
This partnership not only aims to create new sources of green energy but also to positively affect local and national communities.
Forrest pointed out that Barachander is ideally situated for a modest number of turbines with high energy output.
Additionally, GreenPower is developing the Argyll Hydrogen Hub, where Barachander is expected to play a significant role in the region’s renewable energy efforts.
Railpen’s Vision and Government Alignment
Tim Grimstone, Investment Manager at Railpen, expressed enthusiasm for the expanded partnership with GreenPower.
He described Barachander as a promising opportunity to engage in the development of a major onshore wind project, further enhancing Railpen’s renewable energy assets in the UK.
Grimstone reiterated Railpen’s mission to secure long-term returns for its members while contributing positively to the world they live in.
The UK Government’s recent push for accelerated onshore and offshore wind development aligns perfectly with Railpen’s goals, including their commitment to achieving Net Zero emissions across their investment portfolio by 2050.
Collaborating with GreenPower on the Barachander project is seen as a key step toward these objectives, promising substantial social and economic benefits.
Project Details and Community Benefits
The Barachander wind farm will be located in an upland area adjacent to an existing hydroelectric scheme.
The site already features a significant commercial forestry plantation, and the wind farm will be integrated into this landscape.
The project plans to install between nine and 11 wind turbines, each up to 180 meters tall from ground level to the blade tip.
These turbines are described as modern and efficient, reflecting the mid-range of current industry standards.
The Barachander project will comply with Scottish Government guidelines, ensuring that the equivalent of £5000 per MW of installed generating capacity is contributed annually to a community benefit fund.
This could result in over £300,000 per year being invested in community projects and priorities, further enhancing the local impact of the development.