REV in turbines funding boost

Renewable Energy Ventures (REV) has secured loan funding for two Scottish windfarms, including a small-scale development in Aberdeenshire.

REV, owned by former Scottish Liberal Democrat leader Lord Nicol Stephen, had previously faced setbacks in obtaining planning permission for a north-east site.

The firm has recently completed the construction of the Gevens project, which consists of three turbines in Kirkcaldy, Fife.

Its new Brotherton project – also funded by Santander – is located within the Brotherton Estate, near Johnshaven. The Aberdeenshire windfarm will feature two 2.3megawatt (MW) turbines about 330ft tall.

REV’s two new sites are expected to generate 11.5MW in total.

Lord Stephen welcomed

“Two sites are expected to generate 11.5MW”

the funding, the value of which was not disclosed, and said the partnership with backer Thrive Renewables had helped to deliver the first project on time.

He added: “They were able to act quickly and put an innovative loan in place which has allowed us to retain 100% ownership and helped us to realise the project in time to benefit from the ROCs (renewable obligation certificates) available at this time.”

REV expects to start generating electricity from Brotherton within months.

Lord Stephen’s company first sought planning approval to build a windfarm in Aberdeenshire in 2011.

But local opposition and planning errors led to permission in Cushnie being denied on five separate occasions. The company received permission for Brotherton in July last year.