CWP Energy has reached financial close with KfW IPEX-Bank on the £400m Sanquhar 2 Wind Farm in southern Scotland, marking one of the UK’s largest onshore renewable financing deals this year.
The 308MW project will comprise 44 Vestas V162 EnVentus turbines, making it the fourth-largest onshore wind farm in the UK and the first in Scotland to deploy this turbine model, the company said.
Once operational, Sanquhar 2 will generate enough electricity to power around 335,000 homes and cut 540,000 tonnes of CO₂ annually.
Construction is under way, employing around 200 people, with nearly half the workforce drawn from surrounding communities. CWP Energy said the project will contribute more than £200m to local councils and communities over its 40-year lifetime.
CWP Energy managing director Rod Wood MBE said: “We’re delighted to strengthen our long-standing partnership with KfW IPEX-Bank to deliver one of the UK’s most significant renewable energy projects. This £400m Sanquhar 2 development offers both low-cost green energy to consumers and plays a vital role in significantly contributing to energy security.”
KfW IPEX-Bank acted as sole debt provider, marking its eighth collaboration with CWP Energy, having previously financed seven operational wind farms totalling 305MW.