Banks agrees wind farm funding
A SIX-TURBINE wind farm will be up and running in Yorkshire by the end of next year after Banks Renewables confirmed it had secured £21.9m in funding.
The company is building the wind farm on land to the south-east of Rotherham and once operationail it will generate enough power for around 10,000 homes.
Prime Minister David Cameron signalled agreement was close on the Penny Hill scheme in a speech last week.
Neil Brown, group commercial director at the Banks Group, said: “Starting work on our latest onshore wind farm reinforces Banks’ position as one of the leading owner/operators in the UK industry, and we have a number of other sites across our portfolio of developing wind schemes in the north of England and Scotland that will be moving forward in the near future.”
The funding for the project, Banks’s third in Yorkshire, is being provided by The Co-operative Bank.
James Sutcliffe, senior manager in The Co-operative Bank’s renewable energy team, said: “We’re delighted to be backing Banks Renewables with this project and be playing a part in helping their ambitious strategy to develop more renewable energy schemes, where they already have a proven track record.
“We believe medium scale renewables projects such as these can make a significant contribution to the country’s future energy mix and help with the required transition to a low carbon economy.”
Banks was advised by Bond Pearce, Brodies, Natural Power Consultants and Gallagher Heath.
