£83m for 66MW Scottish wind farm
A UK renewable energy company has signed a seven-year £83 million financing facility for a wind farm in Scotland.
The cash will fund the construction of the Galawhistle Wind Farm, which will have an installed capacity of 66MW.
The funding package for Infinis Energy was arranged by Santander Global Banking Markets and Barclays Bank.
First power from the wind farm, located on the borders of South Lanarkshire and East Ayrshire, is expected to be generated by November 2016.
Eric Machiels, Chief Executive of Infinis said: “We can confirm construction is moving ahead on Galawhistle.”
Last week the UK Government confirmed it would scrap subsidies for onshore wind farms from April 2016 – a year earlier than expected.