Macquarie infrastructure debt investment solutions finances seven on-shore wind farms in the UK
London, 15 December 2014
Macquarie Infrastructure Debt Investment Solutions (MIDIS), has successfully financed a portfolio of seven on-shore wind farms in the UK.
The £60m amortising facility provides global asset manager, Capital Dynamics Clean Energy and Infrastructure Fund, with a long term debt solution to recycle equity capital across a 55MW portfolio of seven on-shore wind farms in the UK. A combination of RPI-linked and nominal debt, the 18 year loan structure demonstrates the growing demand from UK renewable energy businesses for long-dated inflation-linked funding facilities.
Kit Hamilton, Senior Vice President, MIDIS said: “We are pleased to finance this portfolio of wind farms. Onshore wind is one of the most established renewable technologies and we anticipate increasing interest from renewable energy businesses looking for loan structures to match their cash flow inflation profile.”
Rory Quinlan, Managing Director, Capital Dynamics said: “With an evolving financing landscape, assets such as wind power generators need alternative ways to access secure long term funding. MIDIS offered an innovative structure allowing us to match our revenue streams and interest costs, as well as access a delayed drawdown facility to help us manage the financing of different projects within the portfolio.”
MIDIS, a part of Macquarie Group, invests in infrastructure debt for a range of global institutional investors. In December 2014 it announced it had raised total commitments of £979million for its UK inflation linked debt strategy, which includes separately managed accounts and a pooled fund.
Macquarie Corporate Communications
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Macquarie Group (Macquarie) is a leading provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie employs more than 13,900 people in 28 countries. At 31 March 2014, Macquarie had assets under management of €287 billion. For more information, visit www.macquarie.com.
About Macquarie Infrastructure Debt Investment Solutions
In early 2012 Macquarie established the Macquarie Infrastructure Debt Investment Solutions (MIDIS) platform to leverage the infrastructure expertise within Macquarie into an investor-aligned global infrastructure debt investment management business. The MIDIS platform has been successful in securing mandates with prestigious insurer and pension scheme clients and has a track record of investing at attractive yields.