A funding agreement with the Co-operative Bank for a total of £21.9 million has ensured that a Durham-based renewable energy business can proceed with the Penny Hill Wind Farm. Banks Renewables, have considerable experience relating to wind farms as this is their third project in Yorkshire. Their previous Yorkshire schemes at Marr and Hazlehead were also funded in conjunction with the Co-operative Bank. The construction work has just started at their latest site at Armistead in Cumbria.
Banks Renewables latest venture at Penny Hill was applauded by Prime Minister David Cameron at the Third Clean Energy Ministerial Conference which was held in London last week. Mr Cameron, when speaking about examples of renewables schemes and future needs said “…will help meet our growing energy demands in a way that protects our planet for our children and grandchildren.”
The Penny Lane site is located to the west of the junctions M1 and M18, which is south east of Rotherham. Many local firms will be contracted to supply materials and also some sub-contract works. The project will create around thirty jobs directly on the site during the construction.
The six turbines will be supplied by REpower and each turbine will have a capacity factor of 3.4MW. These are the highest capacity of all onshore wind farms in the UK. Mabey Bridge, a British engineering company, will build the tower sections of the turbines at their purpose-built factory in Chepstow. The turbines should be delivered to the site early in 2013 and connection to the local grid is should be completed later in 2013.
When the Penny Hill site is complete, the installed capacity of 20.4MW will provide sufficient electricity for approximately 10,000 households and businesses. This is around ten per cent of all houses in the Rotherham area.
Banks Renewables is involved in many schemes to support local communities and to assist with environmental improvements. They have a benefits fund which is worth about £20,000 each year, or £500,000 over the 25 year lifetime of the wind farm. Together with local residents they want to ensure that everyone benefits from their business activities. Additionally Banks has already given another £50,000 investment which is designed to assist in establishing a Warm Zone scheme throughout Rotherham. This will provide grants for energy efficiency improvements for householders, leading to lower energy bills. It will also provide much-needed local jobs. The Warm Zone scheme will give access to further benefits of approximately £3 million for local families.
Banks are obviously delighted that the Penny Hill wind farm has the go-ahead, and Neil Brown, group commercial director at the Banks Group said “Starting work on our latest onshore wind farm reinforces Banks’ position as one of the leading owner/operators in the UK industry, and we have a number of other sites across our portfolio of developing wind schemes in the north of England and Scotland that will be moving forward in the near future.” He concluded “we’re very pleased that The Co-operative Bank is continuing to support our investment in state-of-the-art renewables technology.”

