Norwegian company Fred. Olsen Renewables has secured 303 million pounds ($479 million) in debt financing for the construction of a new wind farm in Scotland, according to a Reuters story.
The company intends to build a 138-megawatt wind farm approximately 25 miles east of Edinburgh and 7 miles south of Dunbar. The article did not say from who was providing the financing.
The news agency cited adviser Chis Andres, a banking partner with Allen & Overy, who helped arrange the deal. According to Avery the deal demonstrates that there is still financial support for large-scale clean energy projects despite turmoil in the credit markets.
"The completion of this deal in a time of uncertainty in the financial markets indicates that there is still appetite for investment in renewable energy and that the right deals can still get away," Andrews said.
Fred. Olsen Renewables is wholly owned subsidiary of holding companies Bonheur and Ganger Rolf.
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