Lightsource bags loan for UK 20MW

Modules at another Lightsource UK project

Modules at another Lightsource UK project

British solar developer and operator Lightsource Renewable Energy has closed project financing on its 20MW Sycamore PV plant in southeast England.

Investec Bank is providing a £14m ($23m) term loan and £1m VAT facility to support the project, sited across 120 acres in Old Romney, Kent.

The plant, still under construction, will feature 82,000 PV panels, enough to power 6,600 UK households.

The transaction is the first construction debt financing Lightsource has wrapped up and follows a number of operational project refinancing deals with Investec.

“We closed seven separate project financing transactions last year, borrowing almost £200m. It is clear that key to a lender’s decision to enter into a financing process is Log in to read complete article.

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