Potential for local farmers to receive part of barclays £100m renewables fund
Barclays has announced a new scheme in which it will provide £100m for UK farmers to install and develop renewable energy projects, potentially providing an opportunity for farmers in the South Lakes to benefit.
Revealed on Tuesday, the scheme would grant local farmers substantial funds to extend into renewable energy developments including solar panels as well as hydro and organic-waste powered projects which could see farmers receiving returns of £25,000 per year.
Barclays sees their investment as 'a big opportunity for agricultural businesses' as well as a positive move for renewable energy.
With Britain aiming for 15% of their primary energy mix to come from renewable sources by 2020, the scheme could provide a vital step toward this target.
Following the announcement Tim said: "This could provide significant benefits for farmers in our area. It is a fantastic prospect and I encourage our local farmers to take this opportunity to venture into renewable energy.
''The scheme could not only provide benefits locally but also nationally, as we work towards Britain's energy needs being increasingly met from renewable sources.''