Department behind RHI scheme has stake in wood pellet firm
It confirmed the shareholding to the News Letter following a report in a daily paper on Thursday.
The department said shares were originally bought in Balcas Ltd in 1994 by the then-Department for Economic Development.
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Hide AdThe shares were later transferred to Invest NI, which is part of what is now the Department for the Economy.
The department said it currently holds 1.2m of shares in Balcas.
The firm describes itself as having “led the development of the market for wood pellet fuel in Ireland and Britain”.
Its website lists the address of “Balcas Timber Ltd / Balcas Ltd” as Killadeas Road, to the south-west of Ballinamallard, Fermanagh.