Falck Renewables closes GBP 45.6m for two UK wind farms

Italian company Falck Renewables SpA (BIT:FKR) said today it has closed a total of GBP 45.6 million (USD 58.2m/EUR 52m) in non-recourse project financing for two wind farms in the UK.

The company has agreed two loan contracts for the plants -- the 22.5-MW Kingsburn and 11.75-MW Spaldington Airfield -- with the core banking unit of Mitsubishi UFJ Financial Group Inc (TYO:8306), or MUFG. The loans have a total term of 18 years and were stipulated at "very favorable conditions".

The Kingsburn wind farm is located near Stirling in central Scotland, while the Spaldington Airfield facility is in East Riding of Yorkshire, England. Falck Renewables brought them both online in May this year.

"For the Group, it is the fourth closing of new non-recourse loans in 2016, for a total amount of GBP 124.5 million, which will support growth," said chief executive Toni Volpe.

(GBP 1.0 = USD 1.276/EUR 1.140)

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