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PROJECT FINANCING SETTLED
1 December 1994
Project financing has been arranged for a 3 MW wind farm now under construction at Caton Moor in Lancashire. Project developer New World Power Corp of the US has secured financing through Hambros Bank of London. The wind farm is made up of ten Belgian 300 kW WindMaster turbines. Six had been installed as of November 17. The project is to be completed this month. New World has now financed and will install a total of 13 MW in the UK -- at Caton Moor, at Dyffryn Brodyn in Wales and at Four Burrows. Financing for the debt portion of the three UK projects totals £7 million, says New World's Al Austin.
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