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£5m to UK small wind project

Wind turbine manufacturer quietrevolution receives £5 million in project financing from Hazel Capital for the deployment of its qr5 wind turbine.

By Micaela Tuckwell

The agreement between quietrevolution and Hazel Capital is for a minimum of 150 wind turbines which once complete will more than double the number of quietrevolution wind turbines currently installed in the UK.

The qr5 wind turbine, manufactured in Wales, is specifically located in the small wind market. At 5x3 m due to its compact rotor it is designed for generating power on-site, either on buildings or as a stand-alone wind turbine.

Jose Carlos Damas, Sales Director at quietrevolution, says: "This project financing enables us to demonstrate our vision of providing distributed energy to communities nationally by locating our wind turbines at regular intervals in the windy parts of the country – along road and rail corridors, and coastal sea defences and promenades. Our vertical axis wind turbines enable us to pursue locations that are not suitable for conventional wind turbines such as sites characterised by high levels of turbulence.”

This financial agreement represents a new strategy for small wind taken from larger wind farm models where once the wind turbine is constructed and operational the financial risk (to sell) is put upon Hazel Capital.

However as a partner at Hazel Capital, Christian Yates points out: “The UK feed-in tariff scheme presents an enticing opportunity for investors to get good returns in the growing renewable energy market. It is even more appealing when this is combined with the ability to support local entrepreneurs in their technology development and to grow jobs in the UK.”

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