Banks Renewables, has secured an £11.7 million funding package with the Royal Bank of Scotland for the construction of its sixth onshore wind farm, reported Bdaily.
The Lancashire wind farm will consist of three turbines, supplied by Nordex situated at Heysham by the end of this year. Connection to the local grid will begin by early in 2015.
Banks Renewable operates four wind farms, three in Yorkshire and one in Cumbria currently.
Phil Dyke, development director, Banks Renewables, said: “Banks Renewables will construct and operate an onshore wind farm with Royal Bank of Scotland representing the latest step on the way to materializing an objective.”
Heysham South site will employ around 10-50 people during various construction phases of the project.
Moreover, a community benefits fund of £250k across the 25-years will enable Banks Renewables to deliver various kinds of environmental improvements in partnership with local people.
Onshore wind is known as the cheapest form of renewable energy that will gain support in UK, reducing carbon emission of country and helping to increase the amount of indigenous energy produced by renewable means, said Phil Dyke.
This transaction is the beginning of a long-term partnership with Banks Renewables. With an active pipeline of other deals in onshore wind and other renewable technologies, a continued support for this market-oriented sector is essential, stated Royal Bank officials.
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