The Pennant-Walters’ Fforch Nest wind farm project reached financial close on 23 February 2012. This is the second phase for the Pant-y-Wal wind farm project: Operis also worked on the first phase which reached financial close on 20 October 2011.
The development of the Fforch Nest site in Wales involves the operation and maintenance of a further seven turbines on the wind farm, providing an additional capacity of 17.5 MW to a total potential capacity of 52.5 MW. Delivery of the turbines is scheduled for August 2012 with construction due to be complete by around March 2013. The wind farm will then operate for a 25 year period.
Senior debt financing is being provided by Lloyds bank.
Operis performed an audit of the financial model which included a review of the tax and accounting treatment. Operis has previously worked with Pennant-Walters on the Maesgwyn wind farm, which reached financial close in October 2009.