Developed by UK on-site generation specialist, Wind Direct, the new turbine will be built on Greenvale's Floods Ferry site in Cambridgeshire and will have a total capacity of 1.5MW. The green energy it produces is expected to meet the average annual electricity needs of 1,000 homes, or around one in seven of the homes in nearby town of March.*
Our Managing Director, Matthew Clayton, comments: "We are delighted to be working with Greenvale and to be building on their commitment to renewable energy. The sustainable ethos of Greenvale has made our collaboration on this project a very positive experience."
"This is a great start to 2014 for our shareholders, building on a record-breaking 2013 for both Triodos Renewables and UK renewables industry. Last year the UK's fleet of renewable projects generated 14.8% of the nation's power. With this project, Triodos Renewables' generating capacity has increased to 60MW."
When the new turbine is operational, our total generation capacity will provide enough clean energy for the average electricity needs of more than 40,000 homes - or eight households for each of our 5,000 shareholders.
Building work on the 110 metre turbine will commence at the end of April with completion due by the end of 2014. Once commissioned, the turbine will be capable of generating up to 60% of the electricity needed to power Greenvale's potato packing facility and reduce the company's reliance on fossil fuels.
Trevor Dear, operations director of Greenvale, comments: "The wind turbine will secure a reliable energy supply for our packing site, generate jobs within the region, and reduce our impact on the environment. This is a key part of our environmental policy which aims to reduce our CO2 output by 20 per cent by 2015."
The wind turbine is the thirteenth project in our investment portfolio, which also includes Ness Point and Eye in Suffolk and Boardinghouse also near March in Cambridgeshire.
*Estimate based on assumed industry standard of 4.22 MWh per home as recommended by RenewableUK http://www.renewableuk.com/en/renewable-energy/wind-energy/uk-wind-energy-database/figures-explained.cfm