A resource of independent energy experts and certification body DNV GL has provided advice for business bank Santander and other lenders on their £210m project finance investment for the development of three new onshore windfarms in the UK.
With a combined capacity of 151MW, the Kype Muir, Middle Muir, and Moor House projects are being constructed by Banks Renewables. They are among 15 other projects that have received contract for difference (CfD) during the first round of the UK Government auction initiative in 2015.
DNV GL's energy business North West Europe, Middle East, and Africa executive vice-president Prajeev Rasiah said: “We always endeavour to provide our customers with the greatest market investment insight, particularly for new schemes such as the UK Government’s CfD programme.
“We constantly strive to ensure that investors have the knowledge they need to make sound financial investments, to mitigate against all risks to secure the safe construction and smooth operation of assets.”
Construction has commenced on the three windfarm projects. Equipped with six wind turbines, England’s Moor House onshore farm is expected to generate clean electricity from early next year.
Scotland’s Middle Muir facility comprises 15 wind turbines and is expected to commence operations later next year, while the 26-turbine Kype Muir farm will become operational in early 2019.
Image: DNV GL advises lenders on three onshore wind farms in UK. Photo: courtesy of DNV GL.