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UK GIB, KKR to provide financial support for Blackcraig wind farm in Scotland

CTBR Staff Writer Published 21 December 2015

The UK Green Investment Bank (GIB) and KKR will jointly provide £82.7m in financing for the 52.9MW Blackcraig wind farm in Dumfries and Galloway, Scotland.

The funding will be provided through Temporis Capital. Of the total finance package, GIB will offer £49.5m funding.

Construction on the wind farm is due to start in January next year, with planned completion in March 2017.

The wind farm will feature 23 Siemens 2.3MW turbines that will generate over 150GWh of renewable electricity, enough to power more than 37,500 homes annually.

, The project, which is owned by Blue Energy, is expected to reduce greenhouse gas emissions by around 25 kt CO2e every year.

Blue Energy CEO Christopher Dean said: "In what has been an eventful year for UK renewables we are delighted to secure this funding from Temporis, GIB and KKR.

"Whilst the funding environment remains challenging this financing completes a very successful year for Blue Energy who now have just over 250MW of onshore wind projects in construction throughout the UK.

A community fund, established by Blue Energy and managed with local representatives, will support local initiatives during the 25-year operational life of the wind farm.

Temporis CEO David Watson said: "We are delighted to be contributing further to the UK's renewable energy production and commitments, particularly in light of the landmark agreement reached in Paris, and look forward to working with Blue Energy to bring the project to fruition."