Asset Finance Solutions (AFS) are proud to announce that they have signed an agreement with Endurance Wind Power that will see AFS provide an asset-backed financing option for farmers buying Endurance turbines.

The financing vehicle is the first of its kind for wind turbines in the UK and Endurance said it will “help the hundreds of would-be owners who already have planning and grid approvals to finally secure up-front financing”.

Endurance UK managing director Dave Rankin said: “This is a game-changer for the small wind industry and for hundreds of farmers in the UK. We are thrilled to offer farmers a new way to grow their businesses and reinvest in the rural economy.

“Endurance is the first to bring true, asset-backed financing to the market, giving farmers their best chance for reliable, additional, annual income through turbine ownership and producing green energy – even if the banks won’t help them.”

AFS commercial director Mike Geddes added: “AFS have a wealth of experience providing finance for capital expenditure for many industries including the agricultural sector. We have taken this experience and in conjunction with Endurance and our panel of funders we have developed a bespoke product enabling us to offer hassle-free financing for wind turbines.”

“Our basic criteria is as follows:

Existing Trading Business – particularly focused on working farms.

Finance for up to 100% of the net cost

Maximum term of 7 years

Structured repayment plans to include stage payments and seasonal payments

Rates subject to status

Low fees

Additional security may be required.

This criteria does not mean that we cannot look at other opportunities and we are looking to further develop our offering over time.”

Endurance has more than 450 50kW turbines installed on farms in the UK and it recently kicked off production of the first British-made 225kW turbine at its Hartlebury manufacturing plant in the West Midlands.

The facility will eventually produce 100 turbines per year and up to 100 green jobs will be created.