Belltown has partnered with Alpha Renewables to form Belltown Alpha Renewables, a company which will be managed by Belltown Power and will bring in the resources for project finance.
Belltown Alpha Renewables anticipates funding 100 per cent of the construction costs of projects without the use of any external financing.
Belltown Power is supported by £50m of investment capital which it plans to utilise in building 30MW of operating power across a range of technologies including Wind, Solar PV, Hydro and Biomass heat.
When constructed, Belltown Alpha Renewables assets will power up to 10,000 homes from renewable sources, offsetting over 23,000 tonnes of CO2 emissions.
“The UK is facing an energy shortage in the coming years and renewable energy will be an increasingly important a part of the energy mix,” Belltown Power CEO Michael Kaplan said.
“No one technology is the solution and, just like the UK as a whole, we plan on building a diversified portfolio of generating assets.”