EXCLUSIVE: Royal Bank-rolls £45m funding for Irish developer to build new Borders wind farm

NTR wind turbine Dublin-based developer NTR is to build a new wind farm in the Borders after securing a £45 million loan from the Royal Bank.

 

Construction has recently commenced and the 27MW Quixwood Moor wind farm in East Berwickshire is due to be operational in Q1 2017, in advance of the closure of the proposed grace period for the UK Renewables Obligation (“RO”) support scheme.

 

NTR will install 13 Senvion 2.05MW turbines, 10 of which are MM92 and three are MM82 turbines at Quixwood Moor. The project is expected to generate enough electricity to power approximately 17,000 homes with renewable energy.

 

Stirling-based Natural Power are acting as technical advisor for NTR on the development.

 

Marie Joyce, NTR Chief Financial Officer
Marie Joyce

Marie Joyce, NTR Chief Financial Officer, said: “We are delighted to have secured this facility with the Royal Bank of Scotland which adds to our recent successful completion of a project finance facility for our Ora More wind project in Northern Ireland.  

 

“This facility is instrumental in ensuring the delivery of construction of this wind farm in advance of the important March 2017 deadline in the UK.”

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