EDINBURGH-based Red Rock Renewables has reached financial close on a £62 million financing for its Benbrack Onshore Wind Farm.
Lloyds, HSBC, and China Construction Bank have provided equal project financing as the Dumfries and Galloway project takes final steps in preparation for handover to the operational phase.
Red Rock Renewables commenced construction of Benbrack Wind Farm in October 2022 on a self-funded basis. The project team included Jones Bros, Natural Power, Vestas, and Wood.
Shi Weifei, Red Rock’s chief finance officer, said, “Our team has been dedicated to delivering an efficient, high quality wind farm for the last five years and to now have the support from Lloyds, HSBC, and China Construction Bank reaffirms that Benbrack was a solid investment. To self-fund construction during particularly challenging market conditions within the renewables sector took a giant leap of faith, so we are delighted to have our turbines operational and now the security of reaching financial close.”
