UrbanWind secures further £3m funding

Renewable energy expert UrbanWind has secured a further £3m of investment, taking total funding for 2015 so far to £6m.

The company is erecting its latest turbine technology for agricultural clients on sites in Suffolk, Carmarthenshire and East Yorkshire, as the sector’s appetite grows for the benefits renewable energy can bring.

These three projects follow on from a similar £3m of secured investment in January, with projects beginning on 100kW turbines on sites in Cambridgeshire and Pembrokeshire, and a 500kW turbine currently being erected on a farm in Fife, Scotland.

They will also save around 860 tonnes of CO2 per year. Over the 20-year predicted lifespan of a project, a turbine can save in excess of 17,200 tonnes of CO2, the equivalent of taking 200 cars off the road for the same period.

It currently has a significant number of sites in the development appraisal phase, including consented sites, which are being evaluated for funding approval. Paul McCullagh, CEO of UrbanWind, said: “We are delighted to announce this further injection of funding. We have got off to an incredible start in 2015, and securing this funding reinforces the position of medium wind technology as an attractive investment opportunity."