Investor swoops for wind turbines near Hull

Investor swoops for wind turbines near Hull

Two onshore wind turbines near Hull have been acquired by Blackfinch Investments – a division of Blackfinch Group.

The turbines, each with a 500kW generation capacity, were acquired through Blackfinch’s renewable energy investment entity, Sedgwick Trading.

This is Sedgwick’s third wind project acquisition in the past year.

The project benefits from the feed in tariff (FiT) subsidy and will provide renewable electricity to an onsite farm through a private wire Power Purchase Agreement (PPA), while the excess generation will export to the electricity grid.

The total generation from the two turbines is expected to be sufficient to power about 1,000 homes.

Senior debt for the project was provided by Santander UK plc (Santander). The project is the first one based on EWT technology that Santander has funded using project finance.

Katie Bagshaw, Director, Infrastructure and Renewable Energy at Santander, said: “We are excited to work with TLT again and support Blackfinch with the further expansion of its clean energy portfolio in the UK.

“The continued growth of this portfolio and the performance of the sites to date demonstrate that this is a buoyant market, and we are looking forward to realising further opportunities to support the growing clean energy market next year.”

Guy Lavarack, Renewables Investment Director at Blackfinch, said: “We are pleased to add the EWT turbines to our renewable energy portfolio operating on sites across the UK, covering solar PV and onshore wind generation, taking the number of installations to 31.”