Published: 04 June 2019 04 June 2019
Watson Farley & Williams (WFW) has advised National Westminster Bank (NatWest) on the circa GBP 80 million debt financing of the ROC-accredited 50MW Afton onshore wind farm in Scotland, UK. The wind farm is owned and operated by Afton Wind Farm Limited, a subsidiary of Edinburgh based energy company, Red Rock Power Limited.
Located in East Ayrshire, the 25-Gamesa turbine Afton project is already fully operational and receives a subsidy of 0.9 ROCs per MWh. It has an existing 15-year power-purchase agreement (PPA) with Danish trader Neas Energy. Red Rock Power is the European subsidiary of SDIC Power, a global power generation company headquartered in Beijing, China. It also owns the proposed Inch Cape Offshore Wind Farm in the East of Scotland and a 25 per cent stake in the Beatrice Offshore Wind Farm which completed construction in May.