KfW IPEX-Bank is providing the financing for the portfolio that has a capacity of 200MW
UK-based electric utility company Community Windpower has secured funding from KfW IPEX-Bank for three Aikengall wind farms in Scotland, with a total capacity of about 200MW.
Located near Dunbar, East Lothian, Scotland, the Aikengall portfolio has secured a debt facility of £144m ($191.4m).
Previously, KFW IPEX-Bank has refinanced CWP’s Calder Water and Millour Hill Wind farms which are equipped with 21 units Siemens Gamesa 3MW direct drive technology turbines.
It has also provided funding for the Sanquhar Wind farm that features nine units of Vestas 3.6MW wind turbines.
Originally, the bank has sponsored the construction of Aikengall II community wind farm in 2014 that has now been refinanced alongside financing to build Aikengall IIa project.
The Aikengall IIa wind project is expected to come online summer 2021
Once operational, the Aikengall IIA wind project is expected to be one of the largest subsidy free projects in country featuring 19 units of Siemens Gamesa 4.3MW turbines.
The electric utility company said that the Aikengall community wind farm will also be added to the finance portfolio.
It also said that the Aikengall have been operational since 2009 and Aikengall II since 2017, while the Aikengall IIa project is planned to commence operational in summer 2021.
KfW IPEX-Bank Power, Renewables and Water Team head and London Branch head Federico Florian said: “We’re delighted to continue our support of Community Windpower’s wind farm business in Scotland.”
“We are one of the leading Project Finance Banks in UK supporting the growth of Onshore and Offshore Wind and committed to sustainable development goals and follow a globally recognised code of enhanced social and environmental standards for project financings. CWP’s Aikengall portfolio fits perfectly into this profile.”
Once all the three wind farms are operational, the power generated by the Aikengall portfolio will be sufficient to supply electricity to at least 150,000 households.