The facilities have been arranged by Santander Global Banking & Markets and Barclays Bank plc as joint lead arrangers to fund the construction of the wind farm, which will have an installed capacity of 66 MW. The project has been under development since 2007 and is located on the borders of South Lanarkshire and East Ayrshire in Scotland. It is expected to be operating commercially and exporting power by November 2016 and will be accredited under the UK Renewables Obligation (RO) scheme.
Infinis has also confirmed it has entered into binding agreements with Vestas Wind Power Europe AS, who will supply the turbines and provide ongoing turbine maintenance, Gael Force Renewables, who will provide balance of plant work, and Npower who will buy the power under a Power Purchase Agreement (PPA).
“We are delighted to have closed the £83 million project financing facility with Santander and Barclays and we can confirm that construction is moving ahead on Galawhistle” said Eric Machiels, Chief Executive of Infinis. “This is a further key milestone in Infinis’ growth aspirations as, together with A’Chruach (43MW), we now have 109MW of onshore wind assets under construction in Scotland.”
Mr Machiels added that at a time when the UK government is keen to secure new renewable capacity to meet its international obligations at the lowest cost to consumers, Infinis is pleased to contribute to the country’s decarbonisation efforts with cost effective renewable technology.
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