Scottish Widows has provided a £96m ($134m) long-term loan facility to Constantine Wind Energy (CWE), an operator of small-scale, onshore wind turbine sites in the UK.
The 17-year project finance loan will fund 185 of CWE’s onshore wind turbines which are based around 132 locations across the UK. This investment will be Scottish Widows’ first in onshore wind, having previously invested in offshore wind and solar farms.
Manuel Dusina, director of Scottish Widows loan investments, said that the “benefits of increased operational efficiency through asset consolidation in portfolios across the onshore wind market is a trend we expect to continue seeing in 2021”.