Velocita Secures Financial Close On Two Wind Farms

Velocita has secured financial close for two onshore wind farms in Scotland.

The renewable energy developer has achieved non-recourse financing on the Airies wind farm in Dumfries and Galloway, and the Sorbie wind farm in North Ayrshire.

Over £76 million of financing has been secured to build the two projects.

The 39.9MW Airies project will be the largest of the schemes, with the Sorbie site estimated to generate 7.05MW.

The financing arrangement with the Bank of Tokyo-Mitsubishi UFJ (BTMU) is Velocita's second project in Scotland following the merger with 2020 Renewables in July 2012.


Both schemes are due to fall under the Renewable Obligation (RO) scheme.

I&H Brown has been contracted to undertake civil and electrical infrastructure works on the projects, while General Electric will supply the 14 GE2.85-103 2.85 MW wind turbines with 80 metre hub height for the Airies Wind Farm. The company will also provide operations and maintenance services under a long term contract.

For the Sorbie wind farm, Enercon will supply the three E82-E4 2.35 MW turbines with 58.9m hub height and provide long term operations and maintenance services.

Generated electricity will then be sold to ENGIE under a long term Power Purchase Agreement.

Alan Baker, Chief Operating Officer of Velocita, said: "These are only two of four projects that we plan to secure project financing on during 2016 in advance of the proposed Renewables Obligation closure deadline."

(LM)