John Laing and Infinergy achieve FC on onshore wind farm in Pembrokeshire
Wear Point Wind Ltd, a consortium consisting of John Laing and wind developers Infinergy has achieved financial close on the 8.2MW Wear Point Wind Farm near Milford Haven in Pembrokeshire. John Laing and Infinergy own an 80% and a 20% share in the facility respectively.
The plans for the wind farm have been developed by Infinergy and planning permission was granted in May 2010 by Pembrokeshire County Council.
It is anticipated that the facility will generate enough electricity to meet the needs of approximately 4,500 homes per year*.
Ross McArthur, Head of Renewable Energy for John Laing, said: “We are delighted to have achieved financial close on Wear Point Wind Farm and look forward to working with our partner, Infinergy, to help deliver clean, renewable electricity to communities across the UK”.
Infinergy’s Managing Director Esbjorn Wilmar, said: “After all the hard work that has gone into this project over the past four years it is very exciting to see it move to the next stage. I am delighted that John Laing has come on board to invest in and co-own the wind farm and I hope that this will be the start of a fruitful cooperation between our two companies.”
The wind turbine technology, hubs, blades and a full 15-year service package will be provided by REpower UK whilst the towers are anticipated to be produced by Mabey Bridge in Chepstow. Each MM82 wind turbine will have a generating capacity of 2.05MW. The overall height of the turbines will be 99.9m. Infinergy and its parent company KDE Energy will provide the asset management services for the project.
The balance of plant contractor will be Raymond Brown Cymru from Bridgend, who tendered successfully again after having constructed Infinergy’s Castle Pill and Ferndale Wind Farms in Wales. The total net investment for Wear Point Wind Farm will be £14.3m, of which a significant amount will be flowing into the Welsh economy.
Debt financing is provided by Nord/LB, who acted as sole mandated lead arranger. All generated power will be sold to Statkraft under a 15 year Power Purchase Agreement.
Work to install the wind turbines and supporting site infrastructure is due to start early next year and the project is scheduled to be fully operational by the end of 2013.
*Source: Renewable UK