Tuesday 8 July 2014

German bank provides £56.5m for UK wind farm

Germany’s state-owned bank KfW Group is financing a 37.4MW onshore wind farm in the UK.

The bank’s investment arm said it would provide £56.5 million for the Crook Hill project in east Lancashire. The wind farm by will consist of 11 turbines and will generate enough electricity to power around 25,000 homes.

A 15-year power purchase agreement has also been signed with Norwegian utility Statkraft.

The wind farm is expected to start producing energy from July next year.