Banks help farmers invest in renewables

24/08/2011

Royal Bank of Scotland and NatWest have thrown their weight behind the turbines which will be a welcomed announcement for farmers who want to use reneawble energy on-farm but don’t have the capital to invest.

A BANKING giant is to provide up to 100 per cent financing on the Vergnet GEV MP 200-275kW range of medium sized wind turbines.

Royal Bank of Scotland and NatWest have thrown their weight behind the turbines which will be a welcomed announcement for farmers who want to use reneawble energy on-farm but don’t have the capital to invest.

Head of NatWest and RBS Agriculture and Renewable Energy, Ian Burrow, said: “I am delighted to be associated with ICE Renewables and the Vergnet turbine.

“We’re serious about being at the forefront of helping UK businesses switch to a more sustainable way of meeting their energy needs.

“We have nearly 200 relationship managers trained in covering the technical, legal and financial considerations specific to renewable energy. No other bank can offer this depth of knowledge and level of service to small and medium sized enterprises.”

ICE Renewables CEO and chair of the Renewable UK Medium Wind Group, Julian Martin, welcomed the decision.

He said: “RBS and NatWest are one of only a handful of banks who fully understand how the renewables market works and are willing to offer sensible financing for the intial deployment cost of our Vergnet turbine.

“We are delighted that with returns on investment being as little as five years, funding a medium wind project had become a low risk option.”

farmersguardian.com

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