The company said on Thursday that it has secured a 14 year term project financing agreement Bank of Tokyo-Mitsubishi UFJ Ltd, Sumitomo Mitsui Banking Corporation and KfW.
At the same time, the company said it has signed over a 50 per cent stake in its 70MW wind portfolio to a fund managed by infrastructure investor Equitix, for an undisclosed sum.
“We are pleased with these important milestones in the evolution of our UK renewables portfolio… the funds generated by this transaction will enable us to accelerate the development of new renewables projects in the UK,” said chief executive of GDF Suez Energy Steve Riley.
GDF Suez will remain the operator of the wind portfolio which includes projects based at Crimp, Flimby, and Sober Hill in England, together with Barlockhart, Blantyre and Craigengelt in Scotland.
GDF Suez’ windfarm interests contribute to a total generation capacity of almost 7GW, making it the largest independent supplier in the UK.