Falck Renewables completes financing of Spaldington and Kingsburn wind farms

The Falck Renewables Group, through its subsidiaries Spaldington Airfield Wind Energy Ltd and Kingsburn Wind Energy Ltd, has stipulated two non-recourse project financing loan contracts with MUFG’s core banking unit, for a total of around £45.6 million (US$55.8 million), for the wind farms of Kingsburn (Scotland) and Spaldington (England), both of which started operating in May 2016.

The two loan contracts, with final due date falling in June 2034 and a total term of 18 years, have been stipulated at very favorable conditions indeed, reflecting the high level of productivity expected from the two plants and the group's financial solidity.

The Kingsburn wind farm, situated 20 km west of Stirling in central Scotland, consists of nine N90/2500 Nordex Enercon turbines with installed capacity of 22.5 MW, and it will generate roughly 75,000 MWh per year of renewable energy. It will be capable of meeting the energy requirements of around 17,800 households, thereby saving around 32,000 tonnes of CO2 per year.

The Spaldington Airfield wind farm, in the county of East Riding, Yorkshire (England), consists of five E92 Enercon turbines with installed capacity of 11.75 MW, and it will generate roughly 27,000 MWh per year of renewable energy. It is capable of meeting the energy requirements of around 7,000 households, thereby saving around 12,000 tonnes of CO2 per year.

Toni Volpe as Chief Executive Officer of Falck Renewables, declared:

“For the Group, it is the fourth closing of new non-recourse loans in 2016, for a total amount of £124.5 million, which will support growth”.