Lincs wind farm secures £425 million in financing

Posted at June 9, 2012 » By : » Categories : News » Comments Off on Lincs wind farm secures £425 million in financing

The joint wind farm development between UK utility Centrica, Dutch company DONG Energy and Siemens Project Ventures has secured £425 million in financing.

The financing for the 270 MW Lincs wind farm off the coast of Lincolnshire near Skegness is coming from a consortium of ten commercial banks including Abbey National, now trading as part of Santander, BNP Paribas, HSBC, Lloyds TSB and Unicredit Bank.

Construction on the project started in 2010 and is expected to be completed in the second half of this year. The wind farm will be fully operational next year.

The wind farm, which will comprise 75 Siemens’ 3.6 MW turbines, is expected to cost around £725 million.

The Lincs development is adjacent to Centrica’s existing Lynn and Inner Dowsing wind farms.

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Related stories:
UK’s largest community-owned wind farm seeks go ahead (10-May)
UK gives go ahead for Vattenfall’s 299 MW Welsh wind farm (8-May)
Centrica’s UK offshore wind farm goes ahead (29-Oct 2009)

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