Renewable energy supplier builds a portfolio of wind turbines with £16M Lombard support
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About Abbey Group Cambridgeshire
Cambridge-based renewable energy developer, The Abbey Group has operated for over 30 years in areas such as property development, logistics, distribution, and agricultural trading. The group has a growing renewables sector and has been involved in the development of over 100MW’s of solar farms.
What did they want to achieve?
Managing Director, Nick Sutton had originally received approval with partners, Yoo Energy Ltd to build a group of 500kw turbines at locations across Scotland and England, but a more recent development granted permission to build a further two 1.5MW turbines.
As a result, they wanted to get funding for the all the turbines being built, costing between £1.5m-£3m each.
How we helped
Having worked with Lombard on a number of past projects, Nick met with Relationship Director, Shaun Pickering from Lombard’s specialist green finance team. Shaun was able to provide The Group with a £16m facility to finance construction of the turbines.
"The Lombard team has been extremely proactive in progressing the deal and their expertise in green energy is unsurpassed. We look forward to working with them again as our renewables sector continues to grow."
The turbines will play a key role in the company’s ongoing mission to maximise the UK’s renewable energy output. The 500kw turbines have now been built and the remaining two 1.5MW turbines are set to be finished by the end of the summer.
Built a long-lasting relationship with us that gives them confidence in financing future purchases.
£16m in funding secured by our specialist green finance team.
The wind turbines will provide enough electricity to run 7,000 homes.