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CO2Sense acquires Welsh wind project

October 24th, 2016 | 10:42 am

CO2Sense is pleased to announce that it has acquired a 500kW wind turbine project from RESense Ltd, CO2Sense’s joint venture company. The project is located in Carmarthenshire and has the capacity to provide enough electricity to power 375 homes. It will also generate a benefit fund for the local community.

CO2Sense Pantycelyn Limited acquired the scheme in January with planning consent, option to lease, grid connection and preliminary accreditation. CO2Sense was responsible for securing technology supply and balance of plant contracts, and has been responsible for managing the build of the project alongside project construction manager TUV SUD PMSS. The selected technology supplier is EWT and the balance of plant contractor for the scheme was Raymond Brown Construction Limited. The turbine became operational in March 2016.

Being the first equity investment into an operational asset, the investment is a unique addition to the CO2Sense investment portfolio which consists of a range of loan types into other renewable energy projects, and equity investments into low carbon businesses.

Commenting on the acquisition, Geoff Sinclair, Chairman of CO2Sense CIC said:

"This investment adds another string to CO2Sense’s bow, with us not only funding the construction of the wind turbine, but also overseeing its build and operation. The experience gives us a depth of knowledge that few other lenders can match and enables us to work much more closely with project developers"

The project has been key in enabling CO2Sense to become self-sustaining and provides flexibility to consider more innovative investments and partnerships with developers looking to take stalled projects forward. If you are looking for a funding partner with experience of developing projects, then please contact us on 0113 247 3848 or e-mail talk2us@co2sense.co.uk.

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