Joint venture partners GreenPower and the DIF-managed Ampere Equity Fund have secured £74m (€84m) to refinance the 46MW Carraig Gheal wind farm in Argyll in Scotland.
Sabadell, Santander and ING are providing the debt finance, which is structured as a seven-year mini-perm, the developers said.
The project, which consists of 20 Siemens Gamesa 2.3MW turbines, has been operational since 2013.
Colville Partners acted as financial adviser to the borrower with Pinsent Masons the legal adviser. Norton Rose and Burness Paul acted as legal advisers to the banks with Wood Group providing technical advice.
GreenPower chief executive Rob Forrest said: “It has been important for Carraig Gheal wind farm and its shareholders that the project has been able to take advantage of improved market conditions and we are delighted with the terms that have been secured in this new funding facility.”
Image: Siemens Gamesa
