Hanwha Q Cells has secured financing from Bayerische Landesbank for the 8.1MW Tower Hill Farms solar project in Gloucestershire in the UK.
The project was connected in March and so qualifies for the UK government’s Renewable Obligation scheme, under which it receives RO certificates for 20 years.
EDF Energy has entered into a 15-year distributed generation purchase agreement with the solar facility.
Tower Hill Farms is the third Hanwha project in the UK that has been provided with a non-recourse loan by Bayern LB this year.
Hanwha VP EMEA project finance Jose Joaquin Munoz Osuna said: “Having successfully completed this transaction with Bayern LB clearly demonstrates that our close working relationship is a win-win for both companies.
“We will now focus on expanding activities in developing, constructing and acquiring further renewable generation assets.”
Bayern LB managing director, global head of financial institutions and structured finance Alexander von Dobschuetz said: “This further strengthens our relationship with Hanwha Q Cells, and we look forward to continuing to support them in their renewable energy strategy.”
Image: this is the third Hanwha project to secure Bayern LB finance this year (Hanwha)
