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Successful Operation of Wharfedale hydropower

October 28th, 2015 | 7:57 am

CO2Sense is pleased to confirm that our £200,000 construction loan investment in the Wharfedale hydropower project has successfully been repaid.

Wharfedale Hydropower Ltd is a joint venture company founded by TLS Hydropower and Derwent Hydroelectric Power Limited, two very experienced companies in the sector. The Wharfedale project utilises a 329kW Kaplan turbine and is designed to generate 1400MWh per year, enough to power 310 homes. It is located by Greenholme Mills, Burley-in-Wharfedale and has enabled the renovation of a previously derelict overspill channel in the existing Greenholme Mill, constructed in the 19th Century. The plant also features a downstream by-pass for fish to ensure the biodiversity of the river is not affected by the plant.

The scheme was one of the first hydropower investments made by CO2Sense and has been a consistent performer since it became operational in 2011. Our finance enabled the developers to complete the construction of the scheme in one phase and was structured as a flexible 5 year revenue share agreement.

Commenting on the advantages of the CO2Sense loan, Bob Middleton of Wharfedale Hydro Power Ltd said

'The investment from CO2Sense has been instrumental in helping us to get the scheme operational on time. Their quick processes and understanding of the sector is a rare combination in an investor, and was particularly refreshing to see at a time when few financiers understood the technology. We recommend CO2Sense to any developer or community group seeking finance to bring a scheme to fruition'.

Wharfedale hydropower Ltd is one of many projects to benefit from our flexible approach to construction finance, designed to help projects reach commissioning quickly and efficiently. If you are interested in knowing more or would like to discuss a scheme for investment, please contact us on 0113 247 3848 or e-mail talk2us@co2sense.co.uk.

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