Banks Renewables has submitted plans for the eight turbine wind farm at High Cumnock, to East Ayrshire Council and as part of this the company has announced plans to increase the amount of money it could invest into the local communities surrounding area.
As a result, the communities’ share of the revenue of the wind farm will now increase from 1.5% to 2.5% with a minimum investment of £5,000 per megawatt per annum which could equate to minimum of £3,400,000 over the 25 year lifetime of the wind farm.
Mark Dowdall, Director and Environment Community, at Banks Renewables, said: “We have submitted plans for what we believe to be an optimum scheme for the High Cumnock Wind Farm, which not only provides a source of renewable energy, but also provides long term significant social, environmental and economic benefits.
“Revenue from the wind farm will be ring-fenced for the local community with the potential to provide direct funding for local organisation, projects and initiatives and the option to purchase an equity share strengthens this funding allowing the community to tackle wider issues such as employment and training support.
“Almost every one of the many local people we’ve met in the area over the last year has made it clear what they want – better jobs, training and apprenticeship opportunities, particularly for young people.
“We have every faith that we have developed plans for a wind farm which brings the greatest amount of benefits possible to the local community.”
The proposal for eight turbines at the High Cumnock Wind Farm site will provide an overall capacity of 27.2MW; a decision on the application will be expected to be made by East Ayrshire Council by Summer 2013.
Banks Renewables is part of the Banks Group which is a family firm founded in 1976 and they now employs 400 people in the renewable energy, property and mining sectors. The company’s development with care approach is the base of which all community consultation and ensures environmental excellence is provided.