Bruntwood Acquires Wind Farm Stake In Industry First
Property investor and developer, Bruntwood, has purchased a 42.4% share in a new co-operative owned wind farm, becoming the first commercial real estate company to make such a move.
The investment means that Bruntwood - which has commercial property in and around Manchester, Liverpool, Leeds, Birmingham, Glasgow and Cambridge- will now source 80% of its annual energy needs, covering Bruntwood’s own offices and shared spaces, directly from the new wind farm at Kirk Hill in Ayrshire, Scotland.
Unify Energy, Bruntwood’s energy supply business, has become a partner to a new cooperative formed to supply the wind farm that includes both households and businesses. Unify Energy will supply businesses with their green energy from the wind farm, with E.ON Next, Your Co-Op Energy and SO Energy set to supply domestic consumers.
The wind farm, which is being developed by Ripple Energy, is now the largest consumer-owned wind farm in the UK. It will protect its members from future energy price shocks by providing stable power for the future.
Chris Oglesby, CEO of Bruntwood, said: “Bruntwood was the first commercial property company in the UK to sign up to the 2030 World GBC Net Zero target and this investment will provide a huge step in us reaching our goals.
“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.”
Image: Kirk Hill wind farm, artist's impression