Its latest turbine scheme in Ceredigion has secured debt funding from the Development Bank of Wales
Left to right: Jane O’Brien, development manager, YnNi Teg, Jon Townend, executive director, and Paul Cowley, technical manager, Welsh Government Energy Service.(Image: )
Community-owned energy developer YnNi Teg has secured funding for its third renewables project. It has negotiated a £412,000 loan for its Penrhiw Fach Wind Turbine scheme near Aberaeron, Ceredigion, with the Development Bank of Wales.
Expected to begin generating clean energy this year, the 900 kilowatt Penrhiw Wind Turbine will have capability to generate clean energy to power 750 homes annually and cut 9,750 tonnes of carbon over its 25-year lifetime. The turbine has been recycled from a site in Germany and has been fully refurbished by Renewable Facilities Management, a specialist company based in South Wales that will also be installing the turbine.
YnNi Teg has also launched a community share offer, inviting local people to become energy owners whilst targeting annual returns of 6%. This is in addition to accruing a minimum of £250,000 into their local community fund.
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The loan for Penrhiw Fach is the third investment by the Development Bank for YnNi Teg. Established in 2018, the Geraint Gwynt Wind Turbine in Carmarthenshire is now paired with Bwlchgwynt solar farm, making it Wales’ first community co-generation site.
Together, the 900 kilowatt wind turbine and 575 kilowatt solar array are powering more than 1,000 homes, saving 1,850 tonnes of CO2 annually, and generating £260,000 for community initiatives.
The site was part-financed by a loan of £1.3 m for the Geraint Gwynt Wind Turbine in 2017 from the Development Bank (known as Finance Wales at that time). Bwlchgwynt solar farm was then part-funded by a loan of £222,000 from the Development Bank in March 2024.
Jon Townend, executive director of YnNi Teg said: “We are committed to helping to deliver a low-carbon, low-cost energy future with generating assets owned in Wales, so that the economic benefits can flow directly to Welsh families, businesses, and communities.
“The support of the Development Bank means that we are driving positive environmental action and helping to build a resilient economy. What’s more local people can benefit with the launch of our share offer that gives them the opportunity to take ownership of their energy needs. It will pay dividends not just to those that invest, but for Wales and the planet.”
Nicola Griffiths of the Development Bank of Wales said: “YnNi Teg has proven success in delivering sustainable, community-owned renewable energy projects that increase community generation, while creating a more resilient Wales. Under YnNi Teg’s model, every pound invested benefits Wales, creating a multiplier effect that strengthens local economies whilst building energy independence.
We’re proud to be funding the development of community energy projects that contribute to our low carbon future and bring long-term environmental, social and economic benefits for local communities throughout Wales.”
The funding for the Penrhiw Fach Wind Turbine came from the Local Energy Fund that is managed by the development bank on behalf of the Welsh Government.
