- Renewable energy developer secures £62m project financing for 67.1MW Dumfries & Galloway Wind Farm
- Project nears commercial operations after breaking ground in October 2022
Edinburgh-based renewable energy company, Red Rock Renewables, has reached Financial Close on a £62m financing with Lloyds, HSBC and China Construction Bank for its Benbrack Onshore Wind Farm. The three lenders have provided equal project financing as the Dumfries & Galloway Project takes final steps in preparation for handover to the operational phase. Lloyds acted as Sole Debt Advisor through a separate ringfenced team.
Red Rock commenced construction of Benbrack in October 2022 on a self-funded basis, demonstrating its commitment to the project and the Scottish wind sector.
Shi Weifei, Red Rock’s Chief Finance Officer, said: 'Our team has been dedicated to delivering an efficient, high quality wind farm for the last five years and to now have the support from Lloyds, HSBC and China Construction Bank reaffirms that Benbrack was a solid investment. To self-fund construction during particularly challenging market conditions within the renewables sector took a giant leap of faith, so we are delighted to have our turbines operational and now the security of reaching Financial Close.'
Red Rock sought to maximise opportunities for the local and UK green economy through its key contractors, throughout construction and the lifetime of the wind farm:
- Dumfries & Galloway-based owner engineer, Natural Power
- Balance of Plant works by Jones Bros
- 15 turbines provided and installed by Vestas, along with a 10-year Service & Maintenance agreement.
- Site Management services by Wood
Red Rock previously secured Contracts for Difference awards in Allocation Rounds 5 and 6 for the wind farm’s total 67.1MW generation capacity and in March 2025, secured a route to market PPA with SSE Energy Markets.
Source: Red Rock Renewables
