Hanwha Q CELLS Co. Ltd. , one of the world’s largest providers of high efficiency photovoltaic modules and solutions, announced that it has closed the financing of another solar project in the UK with Bayerische Landesbank . Tower Hill Farms (8.1 MW) is located in Gloucestershire and was connected in March 2015, therefore qualifying for the UK Government’s Renewable Obligation scheme, under which it receives Renewable Obligation Certificates (ROCs) for 20 years.
After having successfully raised financing for both Fenland Farms and Green End in July 2015, Tower Hill Farms is the third project of Hanwha Q CELLS’ project-portfolio in the UK that has been provided with a non-recourse loan by Bayern LB this year.
EDF Energy, the UK’s largest producer of low-carbon electricity has entered into a 15 year distributed generation purchase agreement with Tower Hill Farms.
Jose Joaquin Munoz Osuna, VP EMEA Project Finance of Hanwha Q CELLS, said; “We are delighted to announce the refinancing of the third project of our initial UK-solar portfolio with Bayern LB. Having successfully completed this transaction with Bayern LB clearly demonstrates that our close working relationship is a win-win for both companies. We will now focus on expanding activities in developing, constructing and acquiring further renewable generation assets.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.