The other shares are owned by an unlevered UK based global asset manager. Fred. Olsen, fully owned by the Norwegian company Bonheur ASA, is one of the largest independent wind power producers in Europe with an installed capacity of 679 MW.
MUFG acted as Mandated Lead Arranger, Hedge Provider, Facility Agent, Security Trustee and Account Bank for the transaction. The financing of this project demonstrates MUFG's ability to provide tailor made solutions for clients also for complex structures as well its commitment to renewable energy projects in Scotland and the UK. Senior financing was provided alongside by SMBC and Siemens Bank.

Fred. Olsen, a highly experienced player in the Scottish renewable market, has developed and built both onshore wind farms in this 75.3MW portfolio.

The portfolio consists of Crystal Rig III wind farm (13.8MW) using Siemens 2.3MW turbines and Brockloch Rig wind farm (61.5MW) using Senvion 2.05MW turbines.

Crystal Rig III became operational by end of 2016 and Brockloch Rig wind farm in 2017. Both wind farms benefits from the UK support scheme for renewable energy and receive Renewables Obligation Certificates (“ROC") for their first 20 years of operation.

Carol Gould, Managing Director, Head of Power & Renewables Structured Finance team in EMEA, said:

"The combined output from these two wind farms will generate power for more than 55,000 homes annually. This transaction builds on the significant track record that we've built up in financing on- and off-shore wind farms across Europe and reinforce the relationship we have built with fred. Olsen over the years. We're delighted to have participated to this transaction in the UK market and are looking forward to playing a role in the financing of similar opportunities in the coming years."