RBS backs NTR in Scotland

Irish renewable energy developer NTR has secured a £44.9m debt facility with Royal Bank of Scotland for its 27MW Quixwood Moor wind farm in Scotland. 

The company said the debt facility will be used to finance the construction of the wind farm in the East Berwickshire area of the Scottish Borders region. 

It added that construction of the wind farm has started and Quixwood Moor is due to be operational in the first quarter of 2017.

The wind farm will deploy 13 Senvion 2.05MW turbines, 10 of which are MM92 and three are MM82 units.

NTR chief financial officer Marie Joyce said: “We are delighted to have secured this facility with RBS which adds to our recent successful completion of a project finance facility for our Ora More wind project in Northern Ireland. 

“This facility is instrumental in ensuring the delivery of construction of this wind farm in advance of the important March 2017 deadline in the UK.”

March 2017 will see the closure of the proposed grace period for the UK Renewables Obligation support scheme.

Pinsent Masons acted as legal advisors to NTR, with Burges Salmon advisors to RBS. 

Civil contractors on the project are RJ McLeod and the owners engineer and technical advisor for NTR is Natural Power.  

Image: NTR