Solar investor in £187m finance deal

The Bluefield Solar Income Fund has closed a long-term debt facility of £187 million with Aviva Investors.

The fund has also agreed a £30 million short-term revolving credit facility with the Royal Bank of Scotland. The two loans will refinance the company's £200 million short-term facility with RBS and Investec Bank.  

John Rennocks, Chairman of the Company, said:  "This is an important milestone in the development of the company.  Over the past three years the Company has patiently built its portfolio with a focus on being able to introduce the right type of financing at the right time.”

> Read the announcement here

Council backs community hydro scheme

Bath & North East Somerset Council is to invest in a new community-owned hydro electric scheme on the River Avon at Bathampton.

The council is making the loan to the Old Mill Community Hydro project located at the Old Mill Hotel at Bathampton Weir on the River Avon.

The project has been developed by local community enterprise Bath & West Community Energy (BWCE) in partnership with Mongoose Energy.

> Find out more

Marine energy project wins £12m funding

The Welsh government has awarded almost £12 million to support Bangor University’s Seacams 2 project which aims to expand the nation’s marine energy sector over the next four years.

Bangor and Swansea universities will provide specialist research and development programmes to help businesses exploit commercial opportunities and create new products and patents.

The Seacams 2 project aims to create new enterprises in the sector and accelerate job creation in existing businesses.

> Read more about Seacams

Teesside wind farm moves ahead

Construction work on a new wind farm on Teesside is set to move into a new phase with the arrival of the first turbine components on site.

Banks Renewables began work on the Lambs Hill wind farm site back in March and has since been carrying out a range of site preparation, construction and infrastructure development activities.

> Read more here

Scottish Water commits to solar power

Scottish Water has pledged a £9m pot to fund solar power projects over the next three years.

The deal, set up by the utility’s subsidiary Scottish Water Horizons Ltd, has been hailed by the company “as a way of enhancing the environment, reducing carbon emissions and cutting costs”.

Four contractors are now lined up to develop, design and install solar panels at Scottish Water assets across the nation.

> Read ScottishWater's' statement