John Laing refinances debt for Carscreugh onshore wind farm

John Laing has finished refinancing of the 15.3MW Carscreugh onshore wind farm in Dumfries and Galloway, South West Scotland.

Santander UK will provide circa £19m of senior debt to accompany the existing funding for the project provided by John Laing.

In June 2013, the wind farm was bought from Gamesa Energia and construction is underway.

The farm will feature 18 Gamesa G52 turbines, which will produce enough energy to power more than 9,500 homes.

John Laing renewable energy managing director Ross McArthur said that the company is delighted to have completed the refinancing of Carscreugh wind farm within a short period of time since it acquired the project on an all equity basis at the end of June.

"We look forward to working with our partners to help deliver clean, renewable electricity to communities across the UK," McArthur added.

The project is expected to be fully operational in late spring 2014.

Gamesa UK will provide operations and maintenance services for the facility.

FIM Services, Pinsent Masons, Eversheds and Natural Power have acted as advisers for the refinancing.