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Financing complete for Northern Ireland Altahullion 26 MW
1 January 2004
Financing is complete for a 26 MW wind farm at Altahullion in Northern Ireland that began operating in July 2003. IIB Bank and KBC Project Finance -- both part of KBC Bank NV of the Netherlands -- provided senior debt totalling some £19 million to part finance the project's construction costs. The wind farm was built at Limavady, County Londonderry by a joint venture of B9 Energy Services of Northern Ireland and Renewable Energy Systems (RES) of England. It was developed in anticipation of a Renewables Obligation law in Northern Ireland, planned to come into effect in April 2005. The project holds a 15 year power purchase agreement with Viridian Energy Supply.
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