Macquarie funds 29-MW Welsh solar project with GBP 21.5m

February 23 – A unit of Australian lender Macquarie Group Ltd (ASX:MQG) has provided GBP 21.5 million (USD 33.2m/EUR 29.3m) in financing for a 29-MWp solar project in Wales sponsored by Quercus Assets Selection.

Macquarie Infrastructure Debt Investment Solutions (MIDIS) said in a press release on Monday that the credit line is split into index-linked and fixed-rate tranches and provides Quercus with a 19-year financing covering both the construction and operational stages of the scheme.

The ground-mounted photovoltaic (PV) project is located in Pembrokeshire and consists of more than 113,000 solar panels. It has a 15-year power purchase agreement (PPA) with Norwegian utility Statkraft.

Luxembourg-based renewable energy infrastructure asset manager Quercus Assets Selection is part of London-headquartered advisory services firm Quercus Investment Partners LLP.

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