FDBusiness.com

£100 Million Renewable Energy Fund for UK Farmers Launched

 Breaking News
  • Heineken’s Acquisition of Punch is Cleared The Competition and Markets Authority (CMA) has accepted proposals by Heineken to resolve concerns over its £402.7 million acquisition of Punch Taverns, one of the UK’s largest leased pub companies, with a portfolio of more than 3,500 pubs nationwide. In June, the CMA said that Heineken’s proposed purchase of part of the Punch Taverns estate [...]...
  • Changing Consumer Tastes Drive Long-term Global Sugar Market Slowdown The consumers’ shift away from sugar consumption is an important driver behind significant changes in the food and beverage industry. These changes will have long-term ramifications, including a likely slowdown in the worldwide sugar market, according to the latest report of Rabobank ‘Sweetness and Lite’. A combination of changing preferences, product reformulations and government pressure have [...]...
  • How is the Rise of E-Commerce Changing the Role of Physical Stores? The rise of the internet has allowed retailers to directly connect with consumers from beyond the physical store revolutionising the competitive space more than ever. The world recently saw the acquisition of Amazon and Whole Foods which sent shock waves through the retail industry. This unforeseen merger has put retailers under pressure more than ever [...]...
  • Younger British Consumers Turn Over a New Leaf on Tea New research from Mintel reveals that as many as 37% of British consumers aged 25-34 have drunk 5-6 different types of tea at home or in the workplace over the past month*, compared to just 3% of those aged 55+. Furthermore, Brits aged 25-34 are the most likely to drink every variety of tea tracked by [...]...
  • Irish Consumer Confidence Hits New High Consumer confidence in Ireland has hit its highest level since the recession and is now the fourth most confident country in Europe, according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions. The Republic of Ireland’s Consumer Confidence Index score – which measures attitudes each quarter on topics including personal finances and job prospects [...]...
  • Fifth Acquisition For Frutarom in 2017 Frutarom Industries, one of the world’s 10 largest companies in the field of flavours and natural specialty fine ingredients, continues its momentum of acquisitions and the implementation of its rapid and profitable growth strategy by agreeing to purchase of 100% of the shares of the UK company Flavours and Essences (UK) Ltd (F&E) for approximately [...]...

£100 Million Renewable Energy Fund for UK Farmers Launched

£100 Million Renewable Energy Fund for UK Farmers Launched
August 30
13:22 2011

Barclays has launched a £100 million fund for UK farmers investing in renewable energy, tracking the massive groundswell of interest from farmers seeking to cut energy bills and generate new income.

 

New figures released by the bank reveal that more than a third (37%) of the UK’s 200,000 farmers are expecting to invest in renewable energy, with the majority doing so within the next year. Farmers are further expecting the investment to generate returns averaging £25,000 per year.

 

Developed with sector specialists including National Farmers Union (NFU), the fund is available for solar, wind, and hydro projects in theUK, with Barclays including projected feed-in-tariffs (FIT) when assessing each loan.

 

“For farmers investing makes sense – it’s good for the environment, but for the majority it’s about good business,” says Travers Clarke-Walker, product and marketing director for Barclays Business. “Over the years farmers have struggled with low commodity prices and increasing costs, and Barclays has already supported many farmers as they seek new ways of making money. Renewable energy production offers farmers a further opportunity to develop their businesses and add to their traditionally vital roles of producing food and managing the countryside.”

 

He adds: “What farmers see is a win-win – lower costs and increased income, and the majority expect the investment to pay for itself in under 10 years. Meaning they are looking forward to many further years of lower energy costs and a potentially new income as they sell energy back to the grid.”

 

Four out of five (80%) of the farmers questioned recognise that renewable energy can provide significant cost savings, with 60% expecting it to generate additional income for their business. In the medium term, increased investment in renewable energy appears even more likely, with Barclays predicting the costs of wind and solar projects to fall by up to 50% in the next three to five years.

 

The new fund will support the British Government’s recent commitment for the UK to generate 15% of its energy from renewable sources by 2020.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements