CWP Energy Secures Financing for Major UK Wind Farm Project
Developer CWP Energy said Monday that it has secured a loan to finance the Sanquhar II wind farm after winning a government-backed contract for difference in the UK's latest renewable energy auction round.The project, now under construction in southern Scotland, will feature 44 Vestas EnVentus turbines and is to rank as the UK's fourth-largest onshore wind farm.Germany-based KfW IPEX-Bank led the 400 million British pound ($538 million) financing. Commerzbank and Helaba joined during syndication, forming a lending group to support the company's future expansion.The project is expected to generate enough electricity to power about 335,000 homes annually while cutting over 540,000 metric tons of carbon emissions each year, contributing to the UK's net-zero and energy security targets.FairWind has reportedly secured a contract from Vestas to deliver the full installation scope for the project, which is an extension of the existing Sanquhar onshore wind farm.It is expected to begin operations in 2027 and, once fully operational, is to generate about 1.2 terawatt hours of electricity annually, trade publication Windtech International said in January.