Pioneer’s portfolio company, Brockwell Energy, reaches financial close on its North Kyle wind energy project.
This will see a total investment of £300 million to deliver 220.5MW of renewable energy capacity, utilising 49 Vestas V136 turbines and generating sufficient energy to power 180,000 households.
The new scheme is being constructed near Dalmellington in East Ayrshire on and around the former Chalmerston and House of Water coal mining sites.
Originated by Brockwell Energy in 2016 as a means of stimulating restoration of the derelict former mining site, North Kyle will also help fund vital regeneration in the communities surrounding the former mining complex.
Brockwell Energy’s Chief Financial Officer Iain Cockburn has led on this support with nine local Community Councils, now known as 9CCG, a group being developed to provide a blueprint for full local empowerment in directing community benefit.
The North Kyle scheme will deliver £65 million in community benefit over 40 years. In addition to this sum, Brockwell Energy has committed to immediately provide an additional £2.6 million to help restoration of the most derelict parts of the original mining site and has made a commitment to a further £3.4 million in additional commitment to help boost the formation of the 9CCG.
The Edinburgh-based company has expressed its gratitude for the incredible support received from all stakeholders, including, and especially, the local communities, East Ayrshire Council and, as landowners, Forestry Land Scotland and Hargreaves Land Limited.
Brockwell Energy is also pleased to announce it has appointed Jones Bros Limited to carry out the construction of the project. Activities on the main site are due to start on June 12 this year and will last for approximately two years.
Alex Lambie, CEO of Brockwell Energy, commented: “I am immensely proud of our entire Brockwell team, who have delivered this flagship project after many years of diligent planning and design.
“Not only is the scale of North Kyle of national significance in the push to achieve Net Zero targets, but the project also promises to be truly game-changing for local communities. The financial support and guidance to the 9CCG will help them establish themselves with sound governance, necessary controls and procedures that ensure funding is directed to projects which provide meaningful and impactful legacy benefits to the surrounding communities.”
Brockwell Energy’s Renewable Solutions business (“BRSL”) will oversee and manage the delivery of the project. David Finnon, Managing Director of BRSL, commented: “Our team have been involved in the development of the project from the outset and have accumulated an intimate understanding of this large and complex site from a design and planning standpoint.
“With the groundwork that has been achieved already, coupled with the skills and expertise in the team, I am confident the project will be delivered safely and efficiently.”
Paul Newman, Brockwell Energy’s Commercial Director, added: “We would like to thank Vestas and Jones Bros for their continued support in developing the projects and look forward to working with both parties to successfully deliver North Kyle through the construction period and into operations.
“We also thank the NatWest team for their support in providing the long-term financing of the project.”