£55m refinancing for 29MW Yorkshire windfarm

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£55m refinancing for 29MW Yorkshire windfarm
Credit: Shutterstock.com/ WDG Photo

Ireland’s NTR has completed a £55 million refinancing of existing debt facilities of the Twin Rivers windfarm, a 29MW windfarm in Yorkshire, with MUFG’s core banking unit.

The project was acquired in December 2016 from InfraRed Environmental Infrastructure Fund and the Co-operative Group.

CFO Marie Joyce said: “We are delighted to have completed this significant facility with MUFG and in doing so have enhanced the financial position of the windfarm.

“The refinancing was completed just four months after acquiring the project, which is a testament to the execution capabilities of the MUFG team.”

Stephen Jennings, Executive Director, Power and Renewables at MUFG in EMEA, added: “The Twin Rivers windfarm offers a significant contribution to the energy needs in the Yorkshire region in addition to providing support for local environmental, educational, and community projects.”

Twin Rivers consists of 14 Senvion MM92 turbines and provides enough clean energy to power 20,500 homes.  The project went into fully operational mode in recent weeks.