Velocita Energy Developments has reached financial close on a pair of Scottish wind farms with I&H Brown to tackle civil engineering and turbine supply being split between GE and Enercon.
The company secured £76m in portfolio project financing arranged by Bank of Tokyo-Mitsubishi for the 7MW Sorbie in North Ayrshire and 40MW Airies in Dumfries and Galloway, as first reported in the most recent issue of subscriber-only newsletter reNEWS.
The larger wind farm will feature 14 of GE’s 2.85-103 turbines and is due to be commissioned ahead of the Renewables Obligation deadline end-March 2017. Sorbie will feature Enercon E82-E4 2.35MW machines and is on a similar build timeline.
Engie will buy the output from both projects under a long-term power purchase agreement. Both wind farms were developed by Velocita unit 2020 Renewables.
Velocita is planning to build a further two wind farms under the RO regime with details to be unveiled later in the year.
The company was advised by Brodies, Wright Johnston & Mackenzie, Green Giraffe and JC RA. DNV GL, DLA Piper, Marsh, and BDO acted for BTMU.
Image: the Maerdy wind farm in the UK under construction (Velocita)
Velocita secures Scottish double
40MW Airies to feature GE turbines, 7MW Sorbie goes to Enercon
By EBS