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Wind power firm UrbanWind in £30m funding deal  

Credit:  BBC News | 24 April 2015 | www.bbc.co.uk ~~

Glasgow-based renewable energy firm UrbanWind has announced plans to develop wind turbine schemes across the UK after signing a £30m funding deal with a private equity firm.

Zouk Capital will provide finance for smaller schemes which have won planning permission but lack funding to proceed.

Under the agreement, Zouk and UrbanWind will create a joint venture to develop suitable projects.

UrbanWind says it has about 100 sites in the development appraisal phase.

They are currently being evaluated for funding approval.

UrbanWind chief executive Paul McCullagh said: “We are delighted to announce the signing of this ground-breaking deal with Zouk Capital.

“It will enable UrbanWind to move ahead with our ambitious development plans, as well as opening up the advantages of wind energy to UK businesses, and is also a fantastic endorsement of the future that wind technology has in the UK.

“We look forward to working with Zouk Capital to bring wind turbine technology plans off the drawing board and into reality on sites across the country.”

Mr McCullagh added that UrbanWind was looking to acquire more consented sites for wind turbine projects, as it continued to develop its strategy in partnership with Zouk.

Source:  BBC News | 24 April 2015 | www.bbc.co.uk

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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