Wednesday, May 2, 2012

News: Banks secures funding for Rotherham wind farm


Banks Renewables has announced a £21.9m funding agreement with The Co-operative Bank to fund the construction of the 20.4MW Penny Hill wind farm in Rotherham.

The Durham-based developer secured planning permission for the six turbine wind farm at Ulley in 2010. Turbines with a maximum height of 132m, are set to be built on green belt land to the west of the junction of the M1 and M18.

The scheme will create 30 jobs during construction and a number of contracts will be awarded to local firms to supply material and conduct sub-contract works. Towers for the turbines will be manufactured by British engineering firm, Mabey Bridge, at their purpose-built factory near Chepstow.

The announcement was made at a meeting of international Energy Ministers last week as part of the Clean Energy Ministerial in Central London.

Neil Brown, group commercial director at the Banks Group, said: "“Utilising onshore wind farms like Penny Hill to update the UK's power infrastructure today is already helping to address the energy challenges that we know the 21st century will bring, and we're very pleased that The Co-operative Bank is continuing to support our investment in state-of-the-art renewables technology."

The development also includes an anemometer mast, together with access roads, crane pads, a control building, a substation, and a temporary compound.

The turbines are expected to be delivered to the site by early 2013, with connection to the local grid expected to be finished in later in 2013.

When operational, the wind farm will have a maximum installed capacity of 20.4 megawatts and generate enough green energy to supply around 10,000 homes annually, equating to approximately 10% of the households in Rotherham.

In addition to this, Banks has already made a further £50,000 investment to help establish a Warm Zone scheme across the Rotherham area. This scheme will deliver practical measures such as cavity wall insulation and loft insulation into local homes in order to help to alleviate fuel poverty and improve domestic energy efficiency on a district-wide basis, and will create further local jobs in itself.

Banks Renewables website

Images: Banks Renewables


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