Elgar Middleton completes the refinancing of a 130 MW 22 site solar portfolio in the United Kingdom

Elgar Middleton is delighted to have advised Arjun Infrastructure Partners on the financing of 22 solar PV farms, totalling 130MWp, in the United Kingdom.

The twenty two operational solar projects all benefit from UK ROC subsidies of varying vintages.

Elgar Middleton advised Arjun Infrastructure Partners throughout the financing process which had some complexities as the portfolio is one of the UK’s more established solar portfolios.

Following a funding benchmark exercise NatWest Bank was appointed to provide over £100 million of long-term non-recourse debt and ancillary facilities and worked diligently with Arjun to close the transaction in a timely manner.