Banks Renewables, the renewable energy division of property and energy business the Banks Group, has completed an £82 million refinancing of seven of its existing wind farms across northern England, five of which were built using external finances and two using Banks’ own capital reserves.

The new funding, from National Australia Bank and Santander, will be utilised in a number of projects, including Banks Renewables’ forward programme of onshore wind farms as well as for a number of other planned projects.

Banks Renewables currently has a total generation capacity from its onshore wind farms, both in operation and construction, of 224MW, with further schemes with a total capacity of 190MW at different stages of development.

The refinancing advisor was law firm Ashurst.