Property developer and investor Bruntwood has purchased a 42.4% stake in a consumer-owned wind project being developed by Ripple Energy.
The Kirk Kill wind farm in Ayrshire in Scotland will consist of eight turbines with a combined capacity of 18.MW.
Under Ripple Energy’s business model, domestic consumers are able to buy shares in wind farms from as little as £25. Once operational, they are then entitled to receive the power generated from their stake via partnered suppliers, with savings being applied to their electricity bill that reflect that the difference between market prices and the wind farm’s operating costs.
Bruntwood will use the power from its share to supply its portfolio of commercial properties in and around Manchester, Liverpool, Leeds, Birmingham, Glasgow and Cambridge, thereby meeting around 80% of their annul electricity usage.
The wind farm will also provide power to Bruntwood’s energy retail business, Unify Energy, which has been become one of Ripple Energy’s supply partners alongside Co-op Energy, Eon Next and So Energy.
Chris Oglesby, chief executive of Bruntwood, said: “We recognise the significant impact our buildings have on the environmental performance of our cities, largely through their energy consumption. Our portfolio in Manchester, for example, accounts for 0.6% of the city’s emissions once you also include our customer’s energy use. Sourcing power from Kirk Hill will make a major dent into this.
“In helping our cities take a big step forward in their own net zero journeys, we’re also giving customers the opportunity to minimise their emissions and some protection from the inflationary pressures on energy prices through greater stability.”
Kirk Hill is Ripple Energy’s second project following Graig Fatha – a single 2.5MW turbine at Coedely in South Wales, which began operating in March. Ripple Energy opened membership for Kirk Hill in February.