CWP Energy has reached financial close on the Sanquhar II Wind Farm, with KfW IPEX-Bank, marking a major international investment milestone for the UK’s largest onshore renewable energy project this year.
With financing now secured for the £400 million development located in Southern Scotland, Sanquhar II will feature 44 state-of-the-art Vestas V162 EnVentus turbines. This makes it the fourth-largest onshore wind farm in the UK and the first in Scotland to deploy this next-generation turbine technology.
Once operational, Sanquhar II will generate enough clean electricity to power approximately 335,000 homes annually, while offsetting over 540,000 tonnes of CO2 emissions each year, making a significant contribution to the UK’s net-zero and energy security goals.
Construction is already underway, and the project will employ around 200 people on site and benefit local supply chains and businesses. CWP Energy are prioritising local contractors and suppliers, with nearly 50% of the workforce drawn from the surrounding areas.
Rod Wood MBE, Managing Director of CWP Energy, commented: 'We’re delighted to strengthen our long-standing partnership with KfW IPEX-Bank to deliver one of the UK’s most significant renewable energy projects. This £400 million Sanquhar II development offers both low-cost green energy to consumers and plays a vital role in significantly contributing to energy security.'
KfW IPEX-Bank acted as the sole debt provider for the project, continuing its longstanding partnership with CWP Energy. This marks the eighth successful collaboration between the two organisations. KfW IPEX-Bank has previously financed seven operational wind farms developed by CWP Energy, representing a combined capacity exceeding 305 MW and utilising both Vestas and Siemens turbines.
'We are very pleased to once again accompany our valued long-standing client CWP Energy, and proudly contribute our financing to this landmark project,’ said Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank. 'Once again, we are emphasising our commitment to driving forward the energy transition in Europe.'
CWP Energy is committed to delivering significant community benefits, including funding for local services and environmental projects. Sanquhar II offers long-term economic and social investment, supporting jobs, local businesses, contributing over £200 million to local councils and communities over its 40-year lifespan.
Source: CWP Energy
