Our investment in the Fenpower project (also known as Ransonmoor wind farm) was unusual in a number of respects. We only bought a 25 per cent share in the project (instead of our normal 100 per cent) and the project was already operational when we invested (we usually prefer to build brand new sites). The reason for this deviation was simple. Part of the deal was a commitment for capital raised by the developer to be immediately deployed into building a brand new site nearby in Boardinghouse wind farm which is exactly in line with our ambition to facilitate new renewable generation capacity. A strong ongoing relationship with the developer means that today, Thrive Renewables also owns a majority stake in Boardinghouse wind farm.
The Fenpower project generates enough power each year to supply the electricity needs of 6,600 UK homes and contributes annually to a community benefit fund to support a variety of valuable local initiatives.