Crook Hill & Reaps Moss
The UK has set an ambitious net zero decarbonization target by 2050. With energy production being one of the main contributors to CO2 emissions, wind energy is expected to continue to play a key role in the sustainable energy transition. Crook Hill and Reaps Moss are supporting the UK Government's net-zero ambitions while making, also, a meaningful contribution to their local community.
The investment in numbers
- Net Zero initiatives at forefront of project
- 157 GWh of emissions-free energy is generated, enough to power c.54K UK homes for a year
- 143K Tonnes of CO2 emissions avoided annually
Situation: The UK has set an ambitious net zero decarbonization target by 2050. With energy production being one of the main contributors to CO2 emissions, wind energy is expected to continue to play a key role in the sustainable energy transition. Separately, as the government has outlined an economic policy aiming at “levelling-up” regions with lower economic output, the renewable sector has the potential to create sustainable green jobs in many underprivileged areas. Action:
- In 2015, Vantage Infrastructure acquired, on behalf of a managed client, two newly constructed wind farms, Crook Hill (CH) and Reaps Moss (RM) located in Lancashire.
- Vantage Infrastructure manages the investments in line with best-in-class governance, risk-mitigation and asset management practices.
- CH&RM participate annually in the GRESB survey to obtain a third-party assessment of their ESG practices and outcomes.
Investment Source: Private Capital Benefit to Country:
- Fully in line and contributing to the government’s net zero initiative.
- Both sites generate c.157GWh of emissions-free energy, on average, enough to power c.54K UK homes for a year.
- The sites avoid c.143K tonnes of CO2 emissions annually.
Benefit to Local Community:
- Supporting the government in developing green jobs and “levelling-up” UK regions.
- All on-site engineering and maintenance works are carried out by local contractors/staff, unless outside specialised help is required on a one-off basis, throughout the 25-year life of the projects.
- As part of their planning permission, the wind farms committed to distribute £55k annually to fund community initiatives. The assets are located in rural areas with limited governmental and private resources. CH&RM make meaningful contributions to local initiatives mostly centred around improving educational, sport and communal facilities. Since their entry in operation, over £230k have been granted by the two companies. Any unused funds will be allocated in future years. The grant winners are selected by an independent specialist, GrantScape, which regularly publishes details of the selection process and the funded projects at www.grantscape.org.uk/, in line with best practices for transparency and accountability.
Benefit to Partner:
- Long-term commitment to a resilient high-quality asset with reliable renewable revenue support system.
- As Sector Leader in GRESB’s ‘ Renewable Power’ category, CH&RM showcase ESG leadership in the transformation of the energy industry towards sustainable practices and meaningful contribution to local communities, with best-in-class governance and risk management practice.
- The projects’ O&M contractors hold multiple ISO accreditations: Environmental, Quality, Occupational and H&S Management, which result in high quality performance and contribute to CH&RM’s Sector Leadership status.
- CH&RM have begun to proactively implement TCFD guidelines, making the investments more resilient to climate change and better able to monitor any associated risks. As a result, long-term value and capital are better preserved as these investments contribute to setting industry standards for responsible asset management.