Vantage RE Ltd, the UK-based renewables unit of Malaysian utility Tenaga Nasional Bhd (KLSE:TENAGA), mentioned on Friday that it has reached a refinancing settlement to the good thing about the 41.5-MW Blyth 1 offshore wind farm situated off the north-east coast of England.
Mizuho Financial institution and Natwest Financial institution have turn out to be lenders to Vantage RE, providing a GBP-72-million (USD 88.9m/EUR 82.2m) refinance bundle that includes a 15-year tenor. The financing settlement with allow Vantage RE to repay the unique inter-company mortgage again to Tenaga, the renewables agency mentioned.
Blyth is a small wind farm situated simply half a mile (0.8 km) off the coast of the namesake English city in Northumberland. Vantage RE holds a 49% curiosity in it, after buying the stake from EDF Renewables UK again in 2021. EDF stays the bulk proprietor of the wind farm.
At current, the London-based Vantage RE manages a portfolio of 530 MW of photo voltaic, onshore and offshore capability.
(GBP 1.0 = USD 1.234/EUR 1.142)
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