Wind Assets LLP held a financial close for its three onshore wind farms on 14th July 2010 in London. Wind Assets LLP secured over £10 million of senior debt financing. NIBC, the Benelux merchant bank, were appointed mandated lead arranger. The estimated cost of the project is £15 million.
Wind Assets LLP is a Limited Liability Partnership established by Infinergy Limited and NIK Energy Limited. The partnership owns a portfolio of three onshore wind farm sites in Pembrokeshire, South West Wales. Two of the wind farm sites are existing facilities, already in operation. The other site will be constructed over the next 12 months and will be fully operational by the end of 2011. The combined capacity of the portfolio in full operation is 10-megawatts and will generate enough electricity for about 5,500 homes.
Operis was invited to review the financial model, which was also built by Operis at an earlier stage, at financial close on behalf of the lenders and Wind Assets LLP.