Sir Richard Arkwright’s Masson Mills at Matlock Bath is home to a working textile and hydropower museum plus conference centre. The entire site is supplied with renewable energy produced by its hydroelectric turbines with any surplus fed into the National Grid.
With the support of a loan from Triodos Bank, Masson Mills has been purchased by the Derwent Hydro group of companies (DHPL), a business owned by the Needle family which has operated hydropower stations since the 1980s.
“Masson Mills has a proud heritage of generating power by harnessing the force of the River Derwent and the museum helps to promote an understanding of the role of clean energy in the past and its potential for the future,” said Jamie Needle, director at DHPL.
“As well as upgrading the hydropower scheme and preserving this important local heritage site, we hope that by introducing new facilities we can increase public enjoyment and appreciation of the Mill for both visitors to the area and local residents.”
DHPL has refinanced its Gerlan Hydro Ltd project to complete the acquisition of Masson Mills. A 1MW scheme on the edge of Snowdonia National Park, Gerlan Hydro was constructed by DHPL in 2013 with the backing of a loan from Triodos and consists of two hydropower stations.
“With a combination of renewable energy investment and the preservation and enhancement of industrial and cultural heritage, this project is an ideal fit for our values as a bank,” said Amandine Tetot, Head of Project Finance at Triodos Bank.
“The Needle family has demonstrated a deep and long-term commitment to the hydro sector and will use their skills and experience to preserve and breathe new life into this significant industrial heritage site while grounding it further in its community.”
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About Triodos Bank
Founded in 1980, Triodos Bank has become a frontrunner in sustainable banking globally. As an independent bank that promotes responsible and transparent banking, it does not see any conflict between a focus on people and the planet and a good financial return. Instead it believes that they reinforce each other in the long-term.
Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain and Germany as well as Investment Management activities based in the Netherlands but active globally. Triodos Bank co-founded the Global Alliance for Banking on Values (GABV), a network of 67 sustainable banks. Together these banks want to grow sustainable banking and its impact on the real economy substantially.
Triodos Bank UK Ltd is a wholly owned subsidiary of Triodos Bank NV. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales Company No. 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008. VAT reg no 793493383.