(Bloomberg) -- Cubico Sustainable Investments plans to invest £200 million ($260 million) to build the largest onshore wind farm in England, after the UK’s new Labour government ended a hiatus for such developments earlier this year.
The proposed 100 megawatt Scout Moor II wind farm marks the first major revival for onshore wind development in England after a nearly decade-long pause under Conservative Party rule. Growing the fleet of onshore wind farms is a critical part of the country’s climate and energy plans.
The project could power over 100,000 British homes by the end of the decade, according to a statement by Cubico, which is backed by Ontario Teachers’ Pension Plan and PSP Investments, one of Canada’s largest pension investment managers. That would be a significant boost to the Prime Minister Keir Starmer’s goal to mostly decarbonize the country’s power grid by the end of the decade.
“Our proposal for Scout Moor II reflects our strong confidence in the UK renewables sector and Britain’s potential to become a global clean energy powerhouse,” David Swindin, chief executive officer at Cubico said in a statement. “We’re encouraged by the government’s vision to accelerate the build out of renewable energy infrastructure across the country, and we are committed to delivering projects that decarbonize our power system, enhance energy security, and benefit local communities.”
While Scotland has the best wind conditions in the country for renewable power production, projects there are often unable to deliver power to demand centers in England because of inadequate grid infrastructure. Investment like the Scout Moor II project in England could help reduce costs by alleviating stress on the grid.
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