Heysham wind farm firm rebrands after takeover

Banks Renewables was acquired by the Brookfield Global Transition Fund in a transaction that was announced in October 2023 and completed in December 2023.

It will be rebranding as OnPath Energy.

OnPath Energy has more than 4 GW of renewable capacity in its pipeline, including 11 operational onshore wind farms across Scotland and northern England, and is already

established as one of the leading owner/operators in the UK onshore renewable energy sector.

It owns the six-turbine Armistead scheme, which sits to the east of the M6 between junctions 36 and 37 in south Cumbria, and the three-turbine Heysham South Wind Farm, which is

located to the south east of the north Lancashire town.

In Banks Renewables’ most recent financial year, the two sites generated over 47,000 MWh of electricity between them, which is enough to meet the annual electricity needs of more

than 15,200 homes or a town roughly the size of Lancaster, and also delivered combined revenues of over £25,000 for their respective community benefits funds.

The funds provide financial support for projects being undertaken by groups and good causes in the communities surrounding each wind farm, and will continue to operate as normal

under the new owners.

OnPath Energy is led by the existing management team, and aims to become the UK’s leading land-based renewable energy developer by building an enhanced portfolio of onshore

wind, solar and energy storage projects.

Richard Dunkley, managing director at OnPath Energy, said: “The OnPath Energy name captures the journey towards Net Zero that we’re taking together with our customers, business

partners, landowners and local communities, and shows our ambition to make a substantial contribution towards creating a just transition to Net Zero that is fair and inclusive for everyone.

“Our success to date has been achieved through creating and maintaining long term and valued relationships with all our stakeholders and conducting ourselves with professionalism and integrity in all that we do.

"Our culture and approach to development was a key reason Brookfield acquired Banks Renewables, and this will continue to be at the core of OnPath Energy.

“We will grow in terms of our diversity of projects and technologies, and also geographically, and will deliver a range of high-quality projects that will contribute to both the UK’s journey

towards net zero and its essential domestic supplies of secure, affordable renewable energy.

“Brookfield provides access to capital, global relationships for procurement and power marketing and a decades-long track record in renewables that will greatly enhance our business.

"We are already seeing the benefits to our business from their ownership, helping many of our projects take significant steps closer to becoming a reality.”

Brookfield is one of the world’s largest owners and operators of renewable power plants, with approximately 33 GW of operating capacity worldwide, equivalent to the UK’s onshore

wind, offshore wind and hydroelectricity capacity.

Take a look at the new OnPath Energy brand at https://www.onpathenergy.com/