Wind turbinesThe amount of loans given by the Co-operative Bank to help fund renewable energy projects has increased three-fold so far this year, according to new figures.

The bank lent £232 million to 17 projects in the first half of 2012, and is on track to report a similar amount by the end of the year.


Projects include a £13.6 million commitment for the funding of a wind project in Wick in the Highlands of Scotland, a £9.5 million wind project in Aberdeen and the lending of £8 million to residents in the Western Isles of Scotland to develop a wind turbine scheme.

The bank lent a total of £79 million last year.

James Sutcliffe, renewable energy manager at the Co-operative Bank, said: "Undoubtedly, demand for renewable projects - especially wind energy schemes - is at an all-time high.

"We have seen the UK public begin to embrace renewable energy as a viable alternative to traditional energy sources and nowadays it is not only companies who are investing in renewable energy projects.

"At a time when many communities are fighting for survival from the wider economic challenges, small to medium renewable energy schemes provide them with an opportunity for communities to become sustainable, creating local jobs and diversifying local economies."