Peel Energy closes financing for 50MW Frodsham wind farm

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Peel Energy closes financing for 50MW Frodsham wind farm

Peel Energy has closed project financing for the 50 MW Frodsham wind farm in Cheshire, North West England, UK.

Additionally, Belltown Power has taken a 50% stake in the project, which total investment is estimated at £66 million (US$101.3 million). KfW IPEX-Bank, which has backed the project, has acted as funding partner for the acquisition.

The project comprises 19 Nordex N90 turbines up to a height of 125 m, which are scheduled to be delivered to the site in the second quarter of 2016. Construction on the scheme started in April , the new facilities are expected to be fully operational by the fourth quarter of 2016.

CHC has been appointed as principal contractor on this project. The contract includes managing engineering, design, construction and installation of civil, mechanical and electrical infrastructure.

Chester Hawarden Airport (CHA) will istall a new radar to mitigate the impact of the wind farm on the primary surveillance radars at CHA and Liverpool John Lennon Airport.

Belltown Power chief financial officer Tom Hill-Norton stated:

"We are delighted to have completed the project financing and acquisition of 50% stake in the Frodsham wind farm. This project builds on our previous success in the onshore wind space, adding a large ROC project that makes an important contribution to the UK’s renewable energy targets."

Muir Miller, managing director of Peel Energy, commented:

"Financial close for Frodsham Wind Farm represents a significant milestone in the UK wind energy sector involving both project finance and the procurement of a resolution in-fill radar to mitigate the impact on two airports."

"We are delighted to have formed new relationships with Belltown and KfW IPEX-Bank and look forward to working together to deliver the project over the coming year."

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