Invicta Capital, which provides investment opportunities for private clients, is seeking to raise a new £300m fund dedicated to the construction and operation of biomass combined heat and power plants in Scotland.

The portfolio is intended to consist of nine medium-sized plants, primarily located on existing industrial and business development parks or brownfield sites in Scotland, with a total generating capacity of up to 90MW of electricity, enough to supply 140,000 homes. The plants will be powered by locally sustainable and managed wood.