• grange and roos mast 

    Two wind farms financed by Lloyds Bank will produce enough electricity to power 24,000 homes in the UK, generate high-skilled jobs and contribute towards meeting targets to reduce CO2 emissions.

     

    Renewable Energy Systems (RES) has proposed two new wind farms in East Yorkshire and Lincolnshire in a £72.6m investment that is supported by finance from Lloyds Bank as part of a structured debt portfolio facility.

     

    The facility, arranged specifically for RES, aims to support its goal to develop a 300 megawatt (MW) portfolio of onshore wind farms in both the UK and France.

     

    POWERING UP

    The farm, near Roos in Yorkshire, will use nine Vestas wind turbines to generate 17.1 MW to power 14,000 homes – the equivalent of 11% of all houses in the region. Roos Wind Farm is expected to be fully commissioned by spring 2013.

     

    Grange Wind Farm in Lincolnshire is a 14 MW project which will power 10,000 homes. The seven wind turbines are likely to be delivered in early 2013, with completion expected by summer 2013. The power generated by these projects will be purchased by Scottish Power Retail Energy.

     

    HALO EFFECT

    Both wind farms will create significant regional and national benefits, with the sustainable energy produced by the farms contributing to the EU’s target of a 20% reduction in CO2 emissions by 2020.

     

    The plants will power 24,000 homes, with community funds put in place to ensure Lincolnshire and Yorkshire can benefit from the profits generated by the projects.


    Jaz Bains, Director, Risk & Investment at RES, affirms that by working closely with Lloyds Bank’s Project Finance team, the company was able to secure the funding required to finance both projects. “The team’s specialist knowledge of the renewable sector and its specific expertise in onshore wind farms has allowed it to provide well-structured facilities which will ensure the delivery of the projects and create a significant amount of energy to power 24,000 homes.

7/21/2019 10:47:59 PM