Bruntwood powers up wind farm deal in industry first
Bruntwood has become the first commercial real estate company to acquire a stake in a new co-operative owned wind farm.
The Manchester-based investor and developer has bought a 42.4% share in a new wind farm at Kirk Hill in Ayrshire, Scotland, for a figure understood to be around £13m. Under the deal, Bruntwood will source 80% of its annual energy needs directly from the wind farm.
Bruntwood’s energy supply business Unify Energy will partner with a new co-operative that will supply the wind farm. Unify will supply businesses, while Eon Next, Your Co-Op Energy and SO Energy will supply domestic consumers.
Bruntwood has become the first commercial real estate company to acquire a stake in a new co-operative owned wind farm.
The Manchester-based investor and developer has bought a 42.4% share in a new wind farm at Kirk Hill in Ayrshire, Scotland, for a figure understood to be around £13m. Under the deal, Bruntwood will source 80% of its annual energy needs directly from the wind farm.
Bruntwood’s energy supply business Unify Energy will partner with a new co-operative that will supply the wind farm. Unify will supply businesses, while Eon Next, Your Co-Op Energy and SO Energy will supply domestic consumers.
The wind farm, which is being developed by Ripple Energy, is thought to be the largest consumer-owned wind farm in the UK.
Chris Oglesby, chief executive of Bruntwood, said: “Bruntwood was the first commercial property company in the UK to sign up to the 2030 World GBC Net Zero target and this investment will provide a huge step in us reaching our goals.
“We recognise the significant impact our buildings have on the environmental performance of our cities, largely through their energy consumption. Our portfolio in Manchester, for example, accounts for 0.6% of the city’s emissions once you also include our customers’ energy use. Sourcing power from Kirk Hill will make a major dent into this.
“In helping our cities take a big step forward in their own net zero journeys, we are also giving customers the opportunity to minimise their emissions and some protection from the inflationary pressures on energy prices through greater stability.”
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Image © Bruntwood/Unify Energy
