December 23 (SeeNews) - Italian company Falck Renewables SpA (BIT:FKR) said Thursday it has secured the entire GBP-42.3-million (USD 52.1m/EUR 49.9m) financing for its 25-MW Assel Valley wind farm in Scotland.
The company’s subsidiary Assel Valley Wind Energy Ltd has agreed a non-recourse project financing loan contract on a club deal basis with MUFG’s core banking unit and Banco de Sabadell. The credit line has a final due date falling in December 2034 and a tenor of 18 years, according to the press statement.
Located near Girvan in southwestern Scotland, the wind farm uses 10 N90/2500 wind turbines of German manufacturer Nordex SE (ETR:NDX1) that were put into operation in October. The plant is expected to produce about 84,100 MWh a year, enough to meet the demand of around 80,100 homes and offset 20,500 tonnes of carbon dioxide (CO2) emissions.
Falck Renewables has a total of 822 MW, or 785 MW according to the IFRS 11 reclassification, of installed renewable power capacity in the UK, Italy, France and Spain.
(GBP 1.0 = USD 1.231/EUR 1.180)