Moray West, part of the Ocean Winds portfolio, has secured £95.5m from Barclays to support the next phase of the project’s construction, as part of a wider syndicated £2bn loan which closed in April.
The wind farm, 22km off the coast of the Moray Firth, is expected to supply around half of Scotland’s electricity, generating enough power for up to 1.33 million homes and saving around 1.1 million tonnes of CO2 emissions by the time the project completes in 2025.
Barclays acted as a sole pre-hedge execution for the project executing interest rate, inflation and foreign exchange hedges, protecting the project and its stakeholders from adverse market movements in a volatile macroeconomic backdrop.
