Hanwha Q Cells has closed the financing of the 8.1-megawatt Tower Hill farms solar project in the UK with Bayern LB.
The project) is located in Gloucestershire and started operating in March 2015, therefore qualifying for the UK Government’s Renewable Obligation scheme, under which it receives Renewable Obligation Certificates for 20 years.
After having successfully raised financing for both Fenland Farms and Green End in July 2015, Tower Hill Farms is the third project of Hanwha Q CELLS’ project-portfolio in the UK that has been provided with a non-recourse loan by Bayern LB this year. EDF Energy, the UK’s largest producer of low-carbon electricity has entered into a 15 year distributed generation purchase agreement with Tower Hill Farms.
