Merepark to develop £6m windfarm
MANCHESTER-based developer Merepark has set up a new joint venture with renewable energy firm Eco2Wind to create a new £6m onshore wind farm in North Aberdeenshire.
The company has formed Merepark Eco2 Wind EIS as a vehicle which will own the farm. Merepark has co-invested in the fund and its sister firm
Merepark Energy and will manage the project, which will see a small wind farm of three turbines generating 2.1Mw of electricity built on agricultural land near Turriff.
The farm will generate enough electricity to power 4,200 homes. Other funding has come from private investors through Enterprise Corporate Finance and through bank debt procided by The co-operative Bank.
The wind farm has already gained planning approval and is set to be operational early next year.
Merepark co-founder Richard Peel said: “Commercial property is the largest producer of CO2 emissions so it seems a very natural fit for us to explore development and income opportunities in this sector.
“This partnership plays to our strengths as experienced asset managers alongside Eco2’s strong track record in the renewable market.”
Merepark has also recently launched the Merepark Solar EIS Fund with Enterprise to benefit from solar photovoltaic generation and feed-in tariff income from commercial 50Mw sites in the south of England.
