UK windfarm secures $123m financing

A 53 MW wind farm in Scotland has reached financial close after securing £82.7m ($123m) from backers.

Work on the Blackcraig wind farm will now begin in the next few weeks.

The UK Green Investment Bank and global investment company KKR have committed the £82.7m of senior debt via Temporis Capital, a London-based investment firm which specialises in renewable energy projects.

The 23-turbine project is located in Dumfries and Galloway and is owned by renewables developer Blue Energy, which bought the project from SSE in May.

Once operational – which is due for March 2017 – it is expected to produce more than 150 GWh of electricity annually.

Blue Energy chief executive Christopher Dean said 2015 had been “an eventful year for UK renewables”.

He said that while “the funding environment remains challenging”, the Blackcraig financing completed a successful year for Blue Energy, which now has just over 250 MW of onshore wind projects in construction throughout the UK.

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