Module manufacturer Hanwha Q CELLS has refinanced two UK solar farms totalling just over 45MW of capacity, signing a power purchase agreement (PPA) with EDF Energy for the electricity produced.

The two plants were connected to the grid before the 1.4 ROC in April this year and EDF Energy’s PPA will run for a 15-year term.

Hanwha Q CELLS developed the 24.8MW Green End solar farm and the 20.4MW Fenland Farm projects in partnership with Golden Square Energy (GSE), which is a joint venture (JV) between AG Renewables and Ingenious Clean Energy. Both projects are in Cambridgeshire in England and use Q CELLS Q.Pro-G3 PV modules.

The latest move to close financing involved a non-recourse loan worth £40.3 million from Bavaria’s state bank, Bayerische Landesbank.

“Through this financing we are both supporting the growth strategy of Hanwha Q CELLS and also further establishing our strong position in the UK renewables market,” said Bayerische Landesbank’s MD and global head of structured finance and financial institutions, Alexander von Dobschutz.