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Cable: Renewable energy is the future

Business Secretary Vince Cable has welcomed the launch of a £60 million fund for small-scale renewable-energy schemes, saying green energy was "the future".

It comes as the first project to benefit from the cash was revealed to be an £8.5m hydro-power station near Stirling in Scotland.

Renewable energy is the future and we must continue to use all of the new and established technologies at our disposal to power our homes and businesses in a way that doesn't damage the environment.

Hydro power has a vital role to play in this. The first project to be funded from a new investment by the Green Investment Bank will use the natural flow of Scotland's rivers to generate electricity.

This project, based in Crianlarich, will produce enough power for nearly 2,000 homes and provide high-skilled jobs for the rural communities in Scotland.

– Vince Cable, Business Secretary

£8.5m hydro-power station to benefit from renewables fund

The first project to benefit from a £60 million new fund aimed at helping small-scale renewable-energy projects will be a river hydro-power plant in Scotland.

It is hoped the scheme will be able to power 1,900 homes Credit: greenhighland.co.uk

The £8.5m scheme, on the River Allt Coire Chaorach near Crianlarich, Stirling - approximately 10 miles north of Loch Lomond - is being put forwards by Green Highland Renewables, which says the project could produce enough energy to power 1,900 homes.

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£60m pledged for smaller renewable-energy projects

A £60 million fund to help smaller-scale renewable energy projects has been launched by the government.

Business Secretary Vince Cable announced that as many as 30 projects across the UK stand to benefit from a slice of the cash, helping generate 24 megawatts of energy - enough to power more than 24,000 homes.

Wind farms will be among projects set to benefit Credit: PA

The UK Green Investment Bank has offered £50m towards the scheme, with another £10m coming from the Strathclyde Pension Fund.

The scheme will provide between £1m and £10m each to energy projects such as new hydro-power schemes, or setting up wind farms on old brownfield sites.

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