Scotland is celebrating a major milestone in its clean energy journey as the Scottish National Investment Bank joins forces with Glasgow-based renewable energy developer Renewco Power in an exciting £29 million funding round. The investment, which includes £20 million from the Bank and an additional £9 million from energy giant SSE plc, represents a powerful vote of confidence in Scotland's homegrown renewable energy talent.

Founded just four years ago in 2021, Renewco Power has already emerged as a shining example of Scottish innovation and ambition. The company has assembled an impressive portfolio exceeding 7 GW across multiple clean energy technologies, including solar, onshore wind, battery storage, and cutting-edge green hydrogen projects. What started as a vision shared by experienced renewable energy and finance professionals has blossomed into a thriving enterprise with 38 employees working across five European offices in Glasgow, Edinburgh, London, Madrid, and Milan.

Particularly heartening is the fact that Scotland is home to Renewco's largest renewables development team, keeping valuable expertise and jobs within the country while contributing to the nation's ambitious climate goals. This investment will help accelerate wind and solar projects throughout Scotland and the wider UK, while simultaneously advancing clean energy transitions in key European markets.

The enthusiasm surrounding this partnership is palpable. Gavin McCallum, CEO of Renewco, expressed his pride in what the investment represents, calling it "a strong endorsement of the team and the quality of our project pipeline." He emphasized how the collaboration will enable Renewco to remain at the forefront of Scotland's renewable energy sector while making significant contributions to national net zero targets.

The Ripple Effect of this investment extends far beyond one company's balance sheet. Ross Dobbie, Investment Director at the Scottish National Investment Bank, highlighted the "wealth of opportunity and potential" thriving within Scotland's renewable energy industry. The Bank's involvement demonstrates a strategic commitment to driving sustainable economic growth while tackling the climate crisis head-on through meaningful net zero initiatives.

Gary Le Sueur, Partner at Corran Capital, the private equity firm managing the investment fund, celebrated Renewco as a "home-grown Scottish business success story." His words underscore a shared commitment among investors to support Scotland's energy transition and environmental objectives, showing how public and private sectors can work together beautifully when united by a common purpose.

This funding round solidifies Renewco's position as a leading force in UK renewable energy development, proving that smart investments in clean technology create jobs, drive innovation, and build a more sustainable future. As Scotland continues its impressive journey toward net zero, stories like Renewco's remind us that the transition to renewable energy isn't just necessary, it's an opportunity for communities to thrive, businesses to flourish, and future generations to inherit a healthier planet. The partnership between Renewco, the Scottish National Investment Bank, and SSE plc exemplifies the kind of collaborative spirit that will power our clean energy future.