Barclays Commercial Bank has provided a €38.9
million finance facility to AES Corporation subsidiary Wind Energy
Limited for the construction and operation of a 22-megawatt wind
farm in North Rhins, Scotland.
million finance facility to AES Corporation subsidiary Wind Energy
Limited for the construction and operation of a 22-megawatt wind
farm in North Rhins, Scotland.
The facility, a non-recourse senior project
construction and term loan, will be repayable over 15 years,
beginning when the North Rhins plant goes online in October
2009.
construction and term loan, will be repayable over 15 years,
beginning when the North Rhins plant goes online in October
2009.
Gareth Miller, head of Barclays’ Renewables & Natural
Resources Project Finance team, said: “We remain committed to
funding good projects in the sector, particularly where the risk
and reward balance is optimal and where our lending activity
supports the wider client relationship.”
The farm will comprise 11 Vestas turbines, and will mark the
first wind project undertaken by an AES subsidiary in the UK.
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AES, which operates 1,000 megawatts of wind generation equipment
worldwide, recently also secured financing for a wind project in
Kavarna, Bulgaria.
