Euryn Jones, HSBC’s regional agriculture manager for Wales, said that his organisation had seen a strong interest in renewable energy from Welsh farmers looking to diversify and secure a secondary income. According to the HSBC agriculture team in Wales, it has already provided £5m to farming customers to fund wind turbines, hydro and solar projects with an additional £1.8m approved.
Said Jones: “In addition to the £6.8m that we have agreed to fund so far, we are discussing several more wind and hydro projects with farmers, both customers and prospective customers.
“As with all major investments, it is important that farmers think carefully about all aspects of a project before committing themselves. We would always encourage farmers to take reliable professional advice, particularly where they are inexperienced in the sector.
“At HSBC we believe that renewable energy projects will have an increasingly important part to play in the future success of Welsh farming. We have a proven track record in financing such projects and look forward to supporting many more farming customers in future.”