Staffs wind turbines planned with £10m investment
Wind Prospect Group has launched a corporate retail bond onto the UK market with the aim of raising £10m. The cash will be used to build the West Midlands' first commercial wind turbines.
Of the £10m raised, Wind Prospect Group said most of the capital will be used to fund the build of wind turbines on land owned by South Staffordshire College.
The company has operations across the UK, including an office in Solihull.
Wind Prospect's on-site generation business stream - Wind Direct – already has planning consent for the two-turbine project, which will see clean green energy supplied directly to the college's Rodbaston campus.
Construction is due to start this summer.
Euan Cameron, chief executive officer of the Wind Prospect Group, said: "The UK government proposes to reduce carbon emissions by 50 per cent on 1990 levels by 2025. Renewable Energy has a major role to play in this target, yet currently only 7 per cent comes from renewable energy. This makes for a strong, growing market in renewable energy generation."
