Downing extends GBP-30m mortgage facility for photo voltaic portfolio in UK

April 5 (Renewables Now) – Funding supervisor Downing LLP introduced it has accomplished an extension of a GBP-30-million (USD 39.3m/EUR 36m) time period mortgage facility with NatWest for a photo voltaic asset portfolio in England and Northern Eire.

The reimbursement date of the time period mortgage, which was initially agreed in June 2019, has been prolonged for an extra three years. Downing mentioned it’s discussing further funding initiatives with NatWest.

The portfolio backed by the mortgage consists of photo voltaic belongings with a mixed capability of round 48 MWp.

The transaction was finalised through Juno Holdings Ltd, a fully-owned unit of Bagnall Power Ltd, which in flip is a part of Downing’s Property Planning Service.

“The extension of the Time period Mortgage affords certainty within the capital construction of Juno and permits for Bagnall to give attention to its pipeline of funding alternatives. The Time period Mortgage additional enhances our means to proceed our technique of diversifying our portfolio by geography, know-how, development stage and income,” mentioned Tom Williams, Associate, Head of Power and Infrastructure at Downing LLP.

(GBP 1.0 = USD 1.311/EUR 1.200)

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