The Abu Dhabi state-owned clean-energy venture said it has secured a 12-year limited-recourse project finance deal for £266m ($424m) on its stake in the 630MW  first phase of the Thames Estuary plant.

The lenders are the Bank of Tokyo-Mitsubishi UFJ, KFW-IPEX Bank, Siemens Bank, Sumitomo Mitsui Banking Corporation, and the UK GIB.

The UK government-backed GIB said its share of the refinancing amounts to £58.6m.

GIB