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UrbanWind secures £3m investment deal

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UrbanWind has secured £3m investment for three major UK wind turbine projects.

This brings its total this year to £6m following the funding it announced for three other projects in January.

Funds are being used to support clients in Suffolk, Carmarthenshire and East Yorkshire which have all successfully achieved planning consent.

Work will start shortly to erect 100-500kWp turbines at these sites.

Glasgow-based UrbanWind is actively looking to acquire more consented sites for turbine projects as it rolls out an expansion strategy.

Paul McCullagh, CEO of UrbanWind, said: “We are delighted to announce this further injection of funding. We have got off to an incredible start in 2015, and securing this funding reinforces the position of medium wind technology as an attractive investment opportunity.”

Stephen Bradley, business development partner at UrbanWind, added: “We are offering a fantastic opportunity for developers and landowners of consented sites to realise the full commercial potential of their sites through inclusion in the fund.

“Commercial pressures around the FiT degression means the time to act is now.”