(ADPnews) - Nov 5, 2010 - UK wind power developer RES Group said on Monday it had completed a portfolio facility with banks to finance the development of its 28 MW wind farm in Scotland.
The credit facility was established with Lloyds Banking Group (LON:LLOY) and BNP Paribas ( EPA:BNP), RES said adding that further assets are expected in 2011.
RES started to build the farm in June 2010 and expects to put it in operation by the spring of 2012. It will include 14 turbines of 2 MW each, to be supplied by Vestas Wind Systems (CPH:VWS) in the summer of 2011. The farm is seen to generate enough power to supply 15,000 households. Utility Scottish Power will purchase the electricity it produces.