Long-term £130m deal to get giant Scottish wind farm up and running supported by Burges Salmon team

May 29, 2024
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A cross-firm team of lawyers from Bristol-headquartered Burges Salmon has advised on a major wind farm project in the Scottish Highlands with the capacity to bring green power to more than 40,000 homes.

Burges Salmon provided banking, finance, energy, real estate, planning and construction expertise to Export Development Canada (EDC) and NatWest on the long-term financing of a 106MW project in Caithness.  

Acting as co-mandated lead arrangers and co-lenders, EDC and NatWest together provided £130m to support the construction of the Limekiln Wind Farm, owned by Canadian energy producer Boralex.

The project, Boralex’s largest scheme in Europe and its first project financing in the UK, will save at least 65,000 tonnes of carbon emissions a year as well as suppling 40,200 homes.

The Burges Salmon team was led by partners Stuart McMillan, Lloyd James, Alex Whiter and Euan Bremner. 

They were supported by directors Alistair Rattray and Laura Sharples, senior associates Alison Logan and Owen Watkins, associates Amy McPherson and Kirsten Ogg, solicitors Thomas Papke and Chris Glendinning and trainee solicitors Gemma Hines and Carys Cox.

Stuart McMillan, pictured, said: “It has been a pleasure working with NatWest and EDC to unlock this significant capital for Boralex’s flagship project in the UK, one that will greatly benefit local communities, providing zero carbon electricity and delivering an array of social, economic, and environmental benefits.

“In what was a complex deal, our experience advising on these types of financing transactions in the renewables sector meant we were able to work together with all parties, and across multiple jurisdictions, to bring this landmark project to fruition.”

Burges Salmon, which employs more than 1,100 people across its offices in Bristol, Edinburgh and London, provides tailored advice from a range of perspectives to support lenders and borrowers on complex financing transactions in the UK and internationally.

The firm acts for some of the world’s largest banks, building societies and more than 50 financial institutions, alongside numerous PLCs and large corporate clients globally.

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