UrbanWind take turbines spend up to £6m

PRESTON-based renewable energy firm UrbanWind has invested a further £3m after confirming funding for three major wind turbine projects.

The spend takes the company’s secured investment total for 2015 to £6m.

Funds are being used to support clients who have successfully achieved planning consent, but lack the cash necessary to develop their sites.

UrbanWind is also erecting its latest turbine for agricultural clients on sites in Suffolk, Carmathenshire and East Yorkshire.

Work will start shortly to put up 100 500kpw turbines on sites the specified areas.

The three projects follow on from a similar £3m investment in January with projects beginning on 100kw turbines on sites in Cambridgeshire and Pembrokeshire and a 500kw unit currently being installed at Fife, Scotland.

Urbanwind chief executive Paul McCullagh said: “We are delighted to announce this further injection of funding.
 
“We have got off to an incredible start in 2015, and securing this funding reinforces the position of medium wind technology as an attractive investment opportunity.
 
“Turbines offer the benefits of significantly reducing energy bills and securing the client against the vagaries of global energy prices. They also offer the potential to significantly reduce carbon footprint by producing clean, green energy.”