UrbanWind have secured £30million worth of funding for onshore turbines to be installed across the country.Advertisement
The renewable energy company have an office on Red Scar Industrial Estate in Preston, as well as Glasgow, and the investment is being described as a major boost for the industry as the money kick-starts the project.
Private Equity Fund Manager, Zouk Capital secured the deal with the company who has already been granted planning permission.
UrbanWind have around 100 sites throughout the UK currently in the development appraisal phase, and are now being evaluated for funding approval.
Paul McCullagh, Urban Wind’s chief executive said, “It will enable UrbanWind to move ahead with our development plans and is also a powerful endorsement of the future that wind technology has in the UK.
“We look forward to working with Zouk to bring wind turbine technology plans off the drawing board and into reality on sites across the country.”
Colin Campbell, Managing Partner at Zouk Capital, said: “We are very happy to be supporting UrbanWind with this innovative funding allocation, which creates an opportunity for developers, farmers and landowners across the UK to unlock the potential of consented sites.”