Hanwha closes financing of two projects in England

Hanwha_Q_Cells

Photovoltaic module manufacturer Hanwha Q CELLS has closed financing of two solar power projects totaling capacity of 45.2 megawatts at Cambridgeshire, England.

The projects – Green End (24.8 MW) and Fenland (20.4 MW) — were grid-connected in March and, therefore, qualified for the UK Government’s Renewable Obligation scheme. Under the scheme, the projects will receive renewable obligation certificates for 20 years.

Operation of the projects was financed by Bayerische Landesbank with a GBP40.3 million non-recourse loan. And EDF Energy has signed 15-year power purchase agreements with the two plants.

Ajith Kumar S

editor@greentechlead.com