Banking and renewables sector experts from Bristol-headquartered law firm Burges Salmon have advised investors in a major onshore wind farm which will produce enough energy to power more than 37,000 homes.
The 52MW Blackcraig wind farm in Dumfries and Galloway, Scotland, is being funded by Temporis Capital, a London-based investment management firm which specialises in the renewable energy and clean tech sectors, the Green Investment Bank (GIB) and KKR, the American private equity firm formerly known as Kohlberg Kravis Roberts.
The Burges Salmon team, led by banking partner Graham Soar, pictured, with assistance from the firm’s construction, real estate and energy teams, acted for Temporis as agent and security agent on the £82m project. 
Construction work starts next month and is scheduled to complete by March 2017. The project, which will consist of 23 turbines made by German engineering giant Siemens, is expected to produce more than 150GWh of renewable electricity annually, reducing greenhouse gas emissions by 25 kt CO2e a year – the equivalent of taking 11,200 cars off the road.
It will be developed, owned and operated by Blue Energy, which has set up a community fund to support the wind farm during its lifespan of 25 years. Local representatives will manage the farm.
Graham Soar commented: “This project builds on our previous lending work for Temporis, GIB and KKR. We are delighted to have helped Temporis, GIB, KKR and Blue Energy get the financing of Blackcraig to completion, particularly against the backdrop of an eventful year for the UK renewable energy sector.”
Temporis CEO David Watson added: “We are delighted to be contributing further to the UK’s renewable energy production and commitments, particularly in light of the landmark [climate change] agreement reached in Paris, and look forward to working with Blue Energy to bring the project to fruition.
Blue Energy CEO Christopher Dean said: “In what has been an eventful year for UK renewables we are delighted to secure this funding from Temporis, GIB and KKR. While the funding environment remains challenging this financing completes a very successful year for Blue Energy who now have just over 250MW of onshore wind projects in construction throughout the UK.”
Pictured below: Siemens 2.3MW turbines, similar to those to be used at Blackcraig, in operation at the White Lee wind farm. Image courtesy of Siemens
