Infinis Energy – the renewables company chaired by former Scottish & Southern Energy chief executive Ian Marchant – has signed a six year £52 million project financing facility to fund the construction and operation of the A’Chruach windfarm.
In August this year Northampton-based Infinis announced that it would not build planned new wind farms in Scotland until the outcome of the Scottish Independence referendum was known.
The facilities have been arranged with the Royal Bank of Scotland and National Australia Bank to fund the construction and operation of the A’Chruach Wind Farm which will have an installed capacity of 43MW.
The wind farm is located in Argyll and Bute, and is due to be operational by March 2016. It is accredited under the Renewable Obligation scheme.
Senvion SE will supply the turbines and provide ongoing turbine maintenance, and has appointed local contractor RJ McLeod for the plant work and AXPO Trading AG, the PPA offtaker.
The planning application for A’Chruach wind farm was approved by Argyll and Bute Council in June 2011. The site consists of 21 turbines located in Kilmichael Forest, about seven miles north-east of Lochgilphead. The 21 turbines will have an installed capacity of 43MW with the wind farm becoming operational in March 2016. The wind turbines are expected to generate electricity for 25 years.
Eric Machiels, Chief Executive, Infinis, said:”We are delighted that construction is moving ahead on A’Chruach. This is a key milestone as we continue to deliver on our growth aspirations that we committed on our market flotation and which will increase the scale of our operating wind portfolio.”