DNV GL trumpets Banks role
Lenders provided with advice on £210m investment in three wind farms
DNV GL advised lenders, including Santander, on the £210m investment in three wind farms totalling 151MW being developed by Banks Renewables in the UK.
The projects are the 88MW Kype Muir and 51MW Middle Muir projects in South Lanarkshire and the 12MW Moor House wind farm near Darlington in northeast England.
Construction has started on the three-project portfolio, all of which will feature Senvion turbines.
Moor House will comprise six MM100 turbines and is expected to become operational in early 2018.
Middle Muir will consist of 15 3.4M114 machines and is scheduled to be operational late in 2018 and Kype Muir’s 26 3.4M104 turbines are due to start producing electricity in early 2019.
DNV GL provided technical due diligence and advisory services, including an independent evaluation of a project's technical risks.
DNV GL executive vice president for energy business in NW Europe, Middle East and Africa Prajeev Rasiah said: “We constantly strive to ensure that investors have the knowledge they need to make sound financial investments, to mitigate against all risks to secure the safe construction and smooth operation of assets.”