UK-based developer Belltown Power has received a £45 million (US$69 million) multiple draw down facility from Macquarie Infrastructure Debt Investment Solutions to finance a portfolio of six operational renewable energy projects.
The 19 year amortising facility is a combination of indexed link and fixed rate debt. The 53.7-megawatt portfolio consists of five solar parks and one wind farm located in the Midlands and South West of the UK.
“Belltown continues to grow its portfolio of renewable energy assets across the UK, and this refinancing will allow us to further capitalize on the current opportunities,” said Tom Hill-Norton, CFO for Belltown. “We were pleased to work with Macquarie on the refinancing, and their offering stood out in terms of flexibility and fit with our portfolio.”
