Module manufacturer Hanwha Q CELLS has closed a financing deal for a third UK solar farm with big six utility EDF Energy also involved once again.
Seoul-based Hanwha refinanced its 8.1MW Tower Hill Farms solar project in south Gloucestershire through Bavaria’s state bank Bayerische Landesbank, which has provided £6.2 million as a non-recourse loan for it.
French utility company EDF has also entered into a 15-year power purchase agreement for electricity generated by the project, the third such deal Hanwha has struck with EDF in the UK with the help of Bayerische LB.
Jose Joaquin Munoz Ozuna, VP EMEA of project finance at Hanwha Q CELLS, said the deal was evidence of the company’s “close working relationship” with Bayerische LB, and that the company would now be focusing on expanding its activities in the market.
“Partnering with Hanwha Q CELLS has been an excellent opportunity for EDF Energy to further demonstrate its commitment to low carbon generation in the UK,” said John Cockin, business services director at EDF.
