Onshore wind developer Bute Energy has secured a project finance agreement of £160 million with Lloyds and Rabobank to construct its first onshore wind development in Caerphilly, south Wales. Construction has begun on site.
Twyn Hywel Energy Park is rated at 93.8MW and Bute Energy says it is the first of 12 onshore wind projects across Wales, with a total generating capacity of +2GW.
Sid Anverali, Project Director at Bute Energy said: “Securing the project financing for Twyn Hywel Energy Park is a landmark moment, not just for this project, but for Bute Energy as a business. This is our first project to move into construction, and that milestone reflects years of rigorous development work and the confidence our financing partners have placed in us.”
Tony Hable, Managing Director & Head of Infrastructure and Project Finance at Lloyds said: “Backing this large-scale South Wales wind project reinforces Lloyds’ leading role in infrastructure and project finance and our support for expanding the UK’s onshore wind capacity.”