A Truro accountancy firm has played a leading role in a major community wind project.
PKF Francis Clark provided financial advisory and financial modelling services for the 4.7MW onshore wind farm at Mynydd y Gwrhyd, 20 miles north of Swansea.
A project finance facility of £5.25 million, completed on May 18, was provided by Triodos bank repayable over a 15-year term. The balance of the funding has been provided by a loan from the Welsh Government and a public share offer.
Rob Gear, from PKF Francis Clark’s corporate finance team, said: “It’s great to have been involved in another community project knowing that any profits will be put back into the local community.
“Dan McCullum (project lead) and his team have been working tirelessly on this project for many years and it’s great to see it come to fruition.”
The project is expected to provide the annual electricity equivalent for over 2,500 homes from two 2.35MW Enercon turbines.
Meanwhile, for the first time, renewable sources of energy have generated more electricity than coal and gas in the UK.
The National Grid reported that yesterday lunchtime (June 7), power from wind, solar, hydro and wood pellet burning supplied 50.7% of UK energy.