Scottish Equity Partners devotes GBP 70 mln for clean energy businesses
Scottish Equity Partners LLP is set to invest around GBP 70 million (US $107.8 million) in Britain's clean energy businesses. The amount will be coming from the venture capital company's GBP 200 million fund.
Gary Le Sueur, a partner at Scottish Equity, said in an interview with Bloomberg that around four to six companies with thrust in clean energy will benefit from the investment. He added that he's interested in low-power lighting, energy efficiency and smart-grid businesses.
"Energy efficiency makes sense from a commercial, economic and environmental perspective," he said. "You can build a profitable business around it. And because of that, investors like Scottish Equity should be able to generate a good return. We're just at the beginning of the journey greening-up the housing and commercial building stock in the U.K. There is a long way to go."
Additionally, Scottish Equity also has Environmental Energies Fund with SSE Plc amounting to GBP 95 million. It has investments in nine businesses that include a wave technology developer, a sun-power company and a small hydropower business.