Barclays and Bank of Tokyo-Mitsubishi UFJ finance Scottish wind farm

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Barclays and Bank of Tokyo-Mitsubishi UFJ finance Scottish wind farm

FIM Services Ltd, an dependent renewable energy investment manager in the UK, and LDV Enel Viento have been successful in securing financial close for the 51.7MW Harburnhead wind farm through a GBP70 million (US$101 million) funding from Barclays and MUFG’s banking arm, Bank of Tokyo-Mitsubishi UFJ.

Barclays and Bank of Tokyo-Mitsubishi UFJ are both providing 50% of the debt for the project that is already around a third of the way through construction. Commercial operation is scheduled for November 2016. 

The 51.7MW Harburnhead wind farm will have 22 turbine located approximately 4 kilometers south of West Calder, in West Lothian, Scotland. The turbines will be up to a maximum 126 meters (to tip) in height. It will be operational for the next 25 years.

On completion, the 51.7MW Harburnhead wind farm will generate enough electricity to power the equivalent of 31,000 homes.

Dr Wayne Cranstone, FIM’s Chief Operating Officer, said:

“We are delighted to have secured project finance through two experienced lenders such as Barclays and MUFG. It is great to be working with both banks again and I look forward to seeing this exciting project enter the operational phase towards the end of the year”.

Nial Gemmell, Director, Infrastructure and Project Finance at Barclays, added:

“Harburnhead marks another significant step in developing the UK’s wind power capabilities. Working alongside FIM Services and LDV Enel Viento further demonstrates our continued commitment to the renewable energy sector where we have a strong track record in supporting quality projects.”

Stephen Jennings, Executive Director, Structured Finance Office at MUFG, commented:

““MUFG is delighted to have supported FIM Services and LDV Enel Viento in reaching this significant milestone. The project joins 4.5GW of existing renewable energy capacity in our EMEA portfolio, of which approximately 2.75GW is located in the UK.”

List of country news

Country news

  • March 18, 2016

    The Abraaj Group acquires project development firm

    The Abraaj Group has announced the formation of a dedicated project development arm by acquiring Themis Energy to further extend its investment capabilities in the energy infrastructure space. Read more
  • March 16, 2016

    UK’s offshore wind project pipeline further strengthened

    The Crown Estate has announced agreements with offshore wind developers ScottishPower Renewables, Vattenfall and DONG Energy, which have reconfigured or identified new projects within their respective Round 3 offshore wind development zones. Read more
  • March 15, 2016

    SSE announces sale of 350 MW Clyde Wind Farm

    UK Wind PLC UK(W), together with the infrastructure investment joint venture GLIL, has recently announced that it has entered into an agreement to acquire 49.9% of Clyde Windfarm Limited from SSE for a consideration of £355 million (US$510 million). Read more
  • March 14, 2016

    SSE completes private placement of GBP 500m

    SSE has completed a private placement of senior notes with 19 US and UK based investors for a total consideration of £500 million (US$718.8 million) in 7, 10 and 11 year maturities. Read more
  • March 14, 2016

    Pensions Infrastructure Platform (PIP) launches £1 billion direct infrastructure fund

    The Pensions Infrastructure Platform (PIP) has recently launched the PIP Multi-Strategy Infrastructure Fund with a target size of £1 billion (US$1.45 billion). Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.