BELLTOWN REFINANCES UK RENEWABLE ENERGY PORTFOLIO
Belltown Power (Belltown), has received a £45 million multiple draw down facility from Macquarie Infrastructure Debt Investment Solutions (Macquarie) 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 MW portfolio consists of five solar parks and one wind farm located in the Midlands and South West of the UK.
Tom Hill-Norton, CFO for Belltown said: “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. We were pleased to work with Macquarie on the refinancing, and their offering stood out in terms of flexibility and fit with our portfolio.”
Kit Hamilton, Managing Director, Macquarie, said: “Macquarie has extensive experience working with renewable energy assets and understands their financing needs. We were able to create a versatile draw down facility to allow Belltown to recycle capital and develop future renewable projects while delivering an illiquidity premium for our investors.”