The Downing Bond platform is raising £1.2 million to support a small-scale wind turbine site in Scotland, owned and operated by C&G Renewables Limited. The £1.2 million raise will support the day-to-day operation of the wind turbines.
The turbines have been operational for over three years and have successfully produced 830,000 kWh of renewable electricity* during a 12-month period – enough to power approximately 270 UK homes for a whole year1.
The Downing Bond platform is part of investment manager Downing LLP, which has funded over 100 energy projects since 2010 totalling c. £500 million, including solar power, onshore wind and biomass energy. The business recently announced strategic investment for the initial phase of a £1.6bn programme – a world-first network of electric vehicle (EV) chargers and batteries across the UK, developed by Pivot Power.
More about the turbine project
The turbines benefit from government backed subsidies called Feed-in-Tariffs (FiTs), which have been one of the main support mechanisms for renewable electricity projects in the UK. A fixed tariff is paid for each kWh of electricity generated by FiT-qualifying renewable energy projects accredited by OFGEM. The turbines operated by C&G received accreditation in November 2013.
Julia Groves, Head of Downing Bonds, commented:
“With close to a third of all power produced in the UK being generated by renewable energy3, this is clearly an interesting area for investors to get involved in. Our latest Bond with C&G Renewables is also a great example of how investors can clearly see their money go towards small-scale, local projects, that are making a positive difference to the UK’s energy market.”