John Laing completes refinancing of Carscreugh wind farm in Scotland

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

Acquired by John Laing from Gamesa Energia in June 2013, the under-construction project will feature 18 Gamesa G52 turbines, which will produce enough renewable energy to power over 9,500 homes. Gamesa UK will provide operations and maintenance for the facility.

Santander UK is providing £19m ($30.7m) of senior debt, while FIM Services, Pinsent Masons and Natural Power are acting as advisers for the refinancing of the project, which is expected to be fully operational in late Spring 2014.

John Laing managing director of renewable energy Ross McArthur said that the company has completed the refinancing of the project within three to four months since its acquisition.