Kite-driven power station project secures £5m investment
A renewable-energy project which aims to be one of the world's first commercial-scale kite-driven power stations has secured a £5 million investment.
Kite Power Systems (KPS) made the announcement on Tuesday that it will be given funding from global energy companies E.ON, Schlumberger and Shell Technology Ventures (STV).
The firm has plans to build a kite-driven power station near Stranraer, Dumfries and Galloway, and the money will go towards technical and commercial development of its pioneering high-altitude wind power generation technology.
The latest investment will support KPS's plans to deploy a 500kW onshore power system at West Freugh in 2017.
Kite power technology has the potential to transform the global offshore wind generation market as it is cheaper to manufacture and requires less construction and installation materials than conventional wind turbines, according to KPS.
Paul Jones, chief financial officer of KPS, said: "The new investment from three major international businesses is an endorsement of the R&D work that the KPS team has carried out and demonstrates support for our technology and our business.
"The backing of these companies will accelerate KPS's commercial development plans towards deploying lower cost, deep-water offshore wind energy on a global scale."
WWF Scotland director Lang Banks said: "We hope the investment enables this emerging renewable technology to achieve its aim of developing a commercial-scale project.
"Kite power technology offers the prospect of an exciting new way to harness the power of the wind, particularly in places where it might be impractical to erect a wind turbine.
"Alongside energy reduction schemes and other renewables, this technology could contribute to helping us to end our addiction with climate-changing fossil fuels.
"We hope the innovation being shown by this project and the many others across the country inspires our politicians to think big when they come to review their climate change and energy ambitions."