KKR dives into community wind
First UK renewables investment with Temporis at 6MW Srondoire
KKR and Temporis Capital are providing £8m in funding for the 6MW Srondoire community wind farm in Argyll and Bute, Scotland.
The cash is part of a £200m lending facility launched in partnership with the Green Investment Bank earlier this month and represents KKR's first investment in UK renewables.
Sròndoire will feature three turbines and be sited near the Allt Dearg community wind farm. It is being developed by the Lithgow family of Ormsary and the Broadfoot family of Stronachullin, and will be partly owned by the local community.
KKR co-head of credit Nat Zilkha said: “Non-bank lending is becoming an increasingly important source of capital for many businesses and sectors.
“This KKR’s first investment in the UK renewable energy sector as renewable power becomes a crucial part of the UK’s energy mix.”
Temporis Capital chief executive David Watson added: “I am excited to announce the first of our investments. I am confident that many more are to come.”
Image: work at the project site in Argyll and Bute (Srondoire Community Windfarm)