UK-based Blue Energy has obtained £10m in financial assistance from the Cooperative Bank to develop a wind farm site in Aberdeenshire, Scotland.
The company plans to install three Enercon e70 2.3MW turbines on the Hill of Auquhirie site near Stonehaven with an estimated generating capacity of 17GWh per annum.
Energy from the wind farm would produce enough electricity to power more than 3,500 homes in the region and displace 8,000 tons of carbon dioxide emissions annually.
Work at the wind plant is currently ongoing and is scheduled to be complete in December 2012.
Blue Energy spokesperson Guy Johnston remarked "This is our first project in Scotland; the wind farm is due to become operational by the end of 2012 and will not only produce renewable electricity to local communities, but will create valuable jobs in the Aberdeenshire area."
Cooperative Bank extended the debt financing its Ethical Plan to commit £1bn to fund renewable energy projects.