The company bought the long leasehold interest in the Acharn site of 6 hectares for £2.45m.
Around £30m will be invested in the development of the 6MWe biomass facility, the company said.
Alpha Real Trust has entered into advanced talks with capital partners on co-financing options for the construction cost of the CHP plant.
The main construction and maintenance contracts are also well advanced, in order to commission the facility by 2017.
Upon completion, the CHP plant will use locally sourced virgin biomass which will be chipped and dried on site.
The facility employs advanced gasification process to generate base load electricity that will be supplied to the local distribution network. The electricity generated at the plant will be enough to power close to 13,500 households in the UK.
The renewable heat generated at the facility will be sold to a biomass management facility and potential other local heat users.
Alpha Real Trust said: "This project represents the potential to benefit from a long term secure and predictable inflation-linked income stream with the potential for associated capital growth from an infrastructure asset in the UK renewable energy sector.
"Additional benefits include the associated long term investment in the local economy with the ability to create 15-20 direct, long term jobs; and the creation of a sustainable source of base load power for Loch Lomond and the Trossachs National Park."
