Three UK wind farms have received a €100mn non-recourse project finance loan from German banks.

Landesbank Baden-Württemberg acted as mandated lead arranger, providing two-thirds of the 15-year loan, with Landesbank Hessen-Thüringen Girozentrale (Helaba) as co-lead arranger.

The farms, located in Essex, Huntingdonshire and Scotland, are operated by German firm Renerco Renewable Energy Concepts, and will be powered by 21 wind turbines supplied by German manufacturers Repower and Enercon. They will have a combined capacity of around 45MW, and are expected to supply approximately 140,000MWh of green electricity a year – the consumption of about 35,000 households. The projects’ total cost is €110mn.

The output of the wind farms has been contracted under a long-term power purchase agreement to a UK-based electricity offtaker.