Losses have significantly narrowed at biomass power station developer Helius Energy.
The company – backed by a group of leading Scottish business figures including Alastair Salvesen who has 25.7% stake and Perthshire-based Stagecoach founder Ann Gloag who holds almost 10% – made a £1.43 million loss in the year to September 30, a significant improvement on the £10.8m loss it posted in 2012.
The year saw the firm’s 7.2MW CoRDE combined heat and power plant in Morayshire coming online for the first time and significant progress in its plans for its 100MW Avonmouth biomass facility.
The company said the project is expected to reach financial close and begin construction in the the first half of this year.
Chairman John Seed said: “I am pleased with the progres we made during 2013 advancing our potfolio of biomass energy projects.”
