Santander banking group is set to invest community-run renewable energy projects, lending an estimated 70% of a £15m fund.
The investment follows Santander’s positive reaction to a recent wind farm in the Western Isles.
The £15m is for a three-turbine scheme, and construction is underway. The 9MW energy project is expected to save 13,600 tonnes of CO2 annually, and will become Britain’s largest 100% community owned wind farm.
The Point and Sandwick farm is expected to start generating power in 2015, and all profits will go back to the community to fund future energy projects.
Over 6000 homes will be fuelled by the energy from the project annually, with a predicted turnover of £3m.