Government boost for Highlands hydro-electric scheme

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. The UK government’s commitment to supporting long-duration energy projects could unlock the investment needed for a £1.5 billion pumped storage hydro scheme in the Highlands.

SSE is working on the Coire Glas development at Loch Lochy which it believes could deliver 30 gigawatt hours of capacity, double the existing storage available in Britain today.

Westminster has now said it will develop a cap and floor funding mechanism for the industry which provides greater certainty for investors.

Robert Bryce, the director of hydro at SSE Renewables, said that this was a “massive step forward”, adding: “SSE will continue to work closely with government and Ofgem as the regulator and