Blackfinch Energy bolsters UK-based renewable energy portfolio with extension of subsidy free wind farm

by | Jul 11, 2022

Share this article

Blackfinch Energy has further bolstered its UK-based renewable energy portfolio with the construction of Bradley Wind 2, its first subsidy free wind farm in Scotland.

The project sees two new turbines added to the existing three turbine onshore scheme in Deuchries, Aberdeenshire, which was initially acquired through its energy investment holding company, Sedgwick Trading Ltd, in December 2020.

The move will increase the total annual renewable energy capacity of Blackfinch Energy – a leading investor in renewable energy and energy infrastructure projects – from 104 Gigawatt hours (GWh) to c. 118 GWh.

Construction of the new, E-82 ENERCON turbines, which have a capacity of 2.35 Megawatts (MW) each, was completed in April 2022, and has already generated its first two month’s income.

 
 

Blackfinch Energy has entered into a grid connection agreement with electricity distributor SSE and a power purchase agreement (PPA) is in place with Smartest Energy.

Alex Common, Legal Director at Blackfinch Energy, said the extension of the site was reflective of the company’s ‘ongoing commitment’ to investment in projects with ‘environmental, social and governance (ESG) values at their core’.

He said: “Onshore wind remains one of the most viable, sustainable energy sources to help the UK meet climate change targets. By increasing the capacity of domestic renewable energy, we are also creating stability in the provision of UK green energy.

 

“Currently, our investments into solar and wind farms generate, on average, over £85,000 into local community projects. So, not only are we building out more resilient clean energy for the UK, but we’re also making a difference on the ground in the local area.

“In that respect, our investment in Bradley Wind 2 is reflective of our own environmental, social and governance values, while also focusing on projects that can bring about a strong return for our clients.” 

Construction of the new turbines was financed by Close Leasing Ltd, and Blackfinch was advised on the deal by TLT LLP (acquisition / banking and property) and CMS Cameron Mckenna Nabarro Olswang LLP (commercial).

 

Both the Turbine Supply Agreement (TSA) and the ongoing maintenance contract (EPK) are with ENERCON Wind Energy UK Ltd (ENERCON).

Balance of Plant (BOP) was provided by Green Cat Contracting Ltd, with Green Cat Renewables Ltd providing ongoing asset management support.

Rachel Bowes, ENERCON’s Head of Sales for Great Britain says: “At ENERCON, we were delighted to be given the opportunity to supply two additional ENERCON E-82 turbines for Bradley Wind 2. This demonstrates not only an increase in energy production, but also the expansion and growth of our relationship with Blackfinch Energy.

 

“We look forward to continuing to work together through our long-term EPK service and maintenance contracts to ensure ongoing success for Blackfinch, their customers and community.”   

Share this article

Related articles

IFAM 126 | Taxing Times | March 2024

IFAM 126 | Taxing Times | March 2024

For many advisers and their teams, March mainly means one thing – the rush for the line as the end of the tax year comes into view. As the silly season kicks in, advisers and their teams are at their very busiest ensuring that clients’ allowances are properly utilised...

Sign up to the IFA Magazine Newsletter

Trending articles

IFA Talk logo

IFA Talk is our flagship podcast, that fits perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast - listen to the latest episode

x