Close Brothers Asset Finance has funded a large, state-of-the-art photovoltaic (PV) system for Staveley Mill Yard, a ‘green’ business park in the Lake District National Park, UK, as part of a Covid scheme loan agreement. 

Staveley Mill Yard is a four-acre site comprising over 40 retail and industrial units located in the centre of Staveley village. The 1,533 roof-mounted solar panels, and nine Tesla Powerwall Batteries – installed by Genfit – will supply around 593MWh of power annually to the business park’s tenants, helping make it more sustainable while also saving significant costs.

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Since installation, the PVs have produced about 1,500,000 kwh (kilowatt hours) per day – one kwh hour will allow you to iron for around an hour. The daily surplus energy of – on average – 400,000kwh is exported to the grid and also used in the local village.

The funding is a CBILS (Coronavirus Business Interruption Loan Scheme) loan agreement.

Jim Leamon, sales director at Close Brothers Asset Finance: 

“The scale of the instal is genuinely impressive and is an excellent illustration of the benefits solar energy can bring, even in an area with the Lake District’s weather.

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“I was delighted we were able to assist the team at Staveley Mill Yard with this project, which is already bringing many benefits not only to the firms on the business park, but also to the local community.

“They are truly committed to limiting their carbon footprint and I look forward to working with them on future projects, as they continue to go from strength to strength.

“We have significant experience in renewable energy funding and are able to provide a range of options not readily available, for example, structured funding terms that can effectively deliver up to 10-year money.”

David Brockbank, Owner of Staveley Mill Yard: 

“We are very proud of this installation – the largest in the Lake District National Park, a World Heritage Site. It goes a long way to reducing the carbon footprint of all the businesses on-site and adds to the 14,000 deciduous hardwood trees we planted in the village.

“It also helps mitigate the exorbitant power costs from the main electricity supply company. The team was excellent – Genfit tailored the install minimising the disruption to the businesses on-site, and Close Brothers Asset Finance were very professional and flexible when accommodating our requirements.”