A wind power project backed by actor Michael Sheen has secured a £5.25m investment from Triodos Bank.
Based on Mynydd y Gwrhyd, near Swansea, South Wales, Awel Co-op’s project comprises two Enercon wind turbines, each with a capacity of 2.35MW.
The bank has provided a 15-year loan to the farm, which has a capacity of 4.7MW.
It is capable of generating enough electricity to meet the equivalent annual needs of more than 2,000 homes.
Dan McCallum, one of the co-op’s directors, said: “We are delighted that Triodos, the leading ethical bank in the UK, have decided to provide a 15 year loan to us.
“They awarded the loan after an extensive due diligence process on the wind farm.
“This is one of the largest ever investments in the Amman Valley, a former coal mining community.
“Triodos have been key backers of the very exciting community energy sector for years in the UK but this is the first time, they’ve been able to invest in an energy co-op in Wales.”
Awel will also extend its share offer until the end of July, or until it reaches its target of £3m, which will enable it to refinance a Welsh Government loan of £1.2m.
The project has previously been backed by Michael Sheen, who hails from Port Talbot; Wales rugby legend; Paul Thorburn; Wales’ first National Poet Gillian Clarke and Paul Allen, of the Centre for Alternative Energy.