Stuart McMillan

Acting as co-mandated lead arrangers and co-lenders, EDC and NatWest together provided £130 million to support the construction of the Limekiln Wind Farm, owned by Canadian energy producer Boralex.

With the capacity to produce, per year, enough green electricity to power 40,200 homes and save at least 65,000 tonnes of carbon emissions, the project is Boralex’s largest scheme in Europe and its first project financing in the UK.

Advising the two lenders on all aspects of the deal, Burges Salmon provided banking, finance, energy, real estate, planning and construction expertise. The team was led by partners Stuart McMillan, Lloyd James, Alex Whiter and Euan Bremner, supported by directors Alistair Rattray and Laura Sharples, senior associates Alison Logan and Owen Watkins, associates Amy McPherson and Kirsten Ogg, solicitors Thomas Papke and Chris Glendinning and trainee solicitors Gemma Hines and Carys Cox.

Mr McMillan said: “It has been a pleasure working with NatWest and EDC to unlock this significant capital for Boralex’s flagship project in the UK, one that will greatly benefit local communities, providing zero-carbon electricity and delivering an array of social, economic, and environmental benefits.

“In what was a complex deal, our experience advising on these types of financing transactions in the renewables sector meant we were able to work together with all parties, and across multiple jurisdictions, to bring this landmark project to fruition.”