Berwickshire Housing Association
Energy & Renewables
Hoprigshiels Community Wind Farm
QMPF is pleased to have supported Berwickshire Housing Association (“BHA”) with its successful £12m refinancing of Hoprigshiels Community Wind Farm.
The refinancing delivers an immediate cash benefit to the project partners and so further supports BHAs objective for the project of providing a further means to fund new homes for social rent. The refinancing enables Community Energy Scotland to fund further support to communities across the country who are seeking to benefit from renewable energy projects. The borrower is Berwickshire Community Renewables LLP.
This 7.5 MW wind farm is owned by BHA (66.7%) and Community Energy Scotland (33.3%). It is located near Cockburnspath in Berwickshire and was financed through construction with debt funding from Triodos Bank and sub-ordinated debt from REIF. The wind farm became operational in 2017 and has performed well over the period.
QMPF assisted the wind farm Board in establishing if there was financial merit in restructuring the SPV. This was undertaken with a combination of internal financial market knowledge and insight, together with a limited scope market testing exercise. Following this QMPF assisted with the understanding and integration of the proposed term sheet and participated in discussions with Triodos who provided debt in the project refinancing.
We continue to support BHA by providing ongoing treasury advice.
For further information contact