A DEVELOPER behind plans for a windfarm at Stillington says a Government go-ahead for heat cash incentives could help safeguard more firms against energy price hikes.
Phil Dyke, managing director of Banks Renewables, says the Renewable Heat Incentive (RHI) - due next year - will also unlock funding for more low-carbon projects.
The scheme is expected to deliver a payment for organisations and individuals that generate their own renewable heat - similar to feed-in tariffs for green electricity, which came into force in April.
Sectors from small-scale energy to developers and installers on Teesside are waiting for confirmation the RHI will go ahead - but so far the Government has offered no assurances.
Banks Renewables will soon apply for planning permission on its £15m Lambs Hill scheme, three miles east of the A1(M).
The project will also pipe otherwise wasted heat to businesses at a nearby industrial estate - and bosses are so confident the figures will stack up, they are not planning to hold out until the announcement on the RHI.
“We hope the heat incentives will come along,” said Mr Dyke.
“It will open a lot more doors, as people are reluctant to commit before they know all the facts.
“But we’re not going to wait for the RHI, we are pretty confident.
“We want to get a scheme that’s technically correct, then take it from there.”
Mr Dyke says the RHI will make it “far more financially attractive” to generate heat and unlock investment for schemes.
“It will be good for new schemes and retro-fitting,” he added.
Banks Group wants to grow its renewables arm and is also planning a 10-acre solar panel array in Yorkshire.
Banks’ other windfarm schemes include Moor House farm at Barmpton, near Darlington, one of the largest onshore schemes in the region.
Up to 10 turbines could be built if the development goes ahead, producing enough green electricity to power 11,500 homes.
The Stillington project, which includes six turbines, will use a combined heat and power system (CHP) to take heat to nearby businesses.
Mr Dyke said that the company wanted to push CHP as a technology and was also keen to invest in more staff.
