DNV GL advises on £ 210 million investment for new UK wind farms

11.04.2017

DNV GL has advised renowned lenders, including Santander, on their £ 210 million project finance investment for the construction of three new onshore wind farms by Banks Renewables.

The 151 MW three wind project portfolio, Kype Muir and Middle Muir in Scotland, and Moor House in England, were among 15 projects that had successfully secured Contract for Difference (CfD) during the first round of the UK government auction initiative in 2015.

Construction has begun on the portfolio, with the six-turbine Moor House wind farm expected to become operational in early 2018. Middle Muir, comprising 15 turbines, is scheduled to be operational later in the same year and Kype Muir’s 26 turbines are due to start producing energy in early 2019.

The lenders’ technical due diligence and advisory services provide an independent evaluation of a project's technical risks, particularly those uniquely relevant to the CfD funding and programme – and highlights the realisation impact of those risks – on the safe and profitable construction and future operation of the assets.

Prajeev Rasiah, Executive Vice President, for DNV GL’s energy business in NW Europe, Middle East & Africa, commented “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.”

DNV GL / Funke

Similar Entries

Following the acquisition of Ria Blades, Siemens Gamesa has completed the purchase of selected assets from Senvion announced in October 2019. The acquisition of Onshore Service assets and IP was concluded in January 2020.

Global Energy Storage Systems Market is set to grow from its current market value of more than $340 billion to over $500 billion by 2025; according to a new research report by Global Market Insights, Inc.

(pict. SH Group A/S)

New easy-to-maneuver transportation solution enables safe, easy and secure transportation of large wind blades on rough and uneven surfaces.

Siemens Gamesa wind farm in Brazil (pict. Siemens Gamesa)

• Siemens Gamesa will supply global utility AES with 52 units of the industry leading SG 5.8-170, boasting the largest rotor in the segment. The turbines will operate at up to 6.2 MW.