Banks Renewables are set to build three new onshore wind farms with funding of £210m, creating 250 jobs.
This will support the developments at Moor House near Darlington and South Lanarkshire’s Middle Muir and Kype Muir sites.
Funding for the projects has been provided by Macquarie Infrastructure Debt Investment Solutions (MIDIS), Santander, ING, National Australia Bank and Rabobank.
Scale of the project
Leading global manufacturer Senvion have been contracted to supply and install the turbines for all three projects. Kype Muir, Middle Muir and Moor House comprise of 26, 15 and 6 turbines respectively.
Banks Renewables managing director, Richard Dunkley, said: “This investment package is a real expression of confidence in both Banks Renewables and the wider UK onshore wind sector, and it’s exciting to now be accelerating the process of taking these three wind farms forward.
“The Kype Muir, Middle Muir and Moor House wind farms have all taken many years of challenging development to get to this stage, and being successful in the government’s first ever CfD auction against stiff competition was critical to the projects’ success.
Key role in carbon-free UK
“Onshore wind in general and these projects in particular represent the best value for money to consumers as the government seeks to deliver on its climate change obligations. We believe onshore wind will continue to play a key role in delivering lowest cost carbon-free energy for the UK.”
He added: “Around 250 jobs will be created through the construction of the three new wind farms, and when complete, they will transform Banks Renewables’ generation capacity from 74 MW to 224 MW.”