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Burges Salmon advises Capital Dynamics on £63m wind farm loan

Posted: 5th August 2019

Energy sector experts from the firm’s Banking team have advised global asset management company Capital Dynamics on a £63 million loan from Aberdeen Standard Investments

The Burges Salmon team, led by Banking partner Graham Soar and associate Alison Logan, advised Capital Dynamics on the legal aspects of the financing, which has seen Aberdeen Standard Investments provide £63 million of long-term debt to finance The Whiteside Hill Wind Farm in Dumfries and Galloway, Scotland.  Energy partner James Phillips advised on asset management contracts.

Alison Logan

The wind farm is owned by funds managed by Capital Dynamics, under its Clean Energy Infrastructure investment strategy.  Capital Dynamics is one of the largest specialised renewable energy investment managers in the world with 4.7 GW of gross power generation across more than 100 projects.  The wind farm has an approved export capacity of 27 MW and is accredited under the UK Government’s ROC programme. The project is operated by a subsidiary of the GE group, which also manufactured and installed the turbines.

The debt finance was provided by three pension and insurance clients of Aberdeen Standard Investments.

“We have taken advantage of the competitive market environment to put in place an attractively priced, long-term debt financing package for our Whiteside Hill Wind Farm,” comments Sharad Bhargava, Vice President, Clean Energy Infrastructure team at Capital Dynamics. “We greatly appreciate the work of our advisors and counterparties in helping us implement a creative solution for both our wind farm and investors.” 

Graham Soar

Graham Soar concludes: “We are delighted to have helped Capital Dynamics get this financing in place as part of its renewable energy investment strategy.  It has been a pleasure working with the Capital Dynamics team.”

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