Enray Power has secured GBP 43 million (USD 57.4 million) in project financing from Cooperative Rabobank UA to support the development of the 71-MW Carlton Solar Farm in North Yorkshire, England. The financing package includes a construction term loan as well as ancillary facilities covering debt service reserves, VAT requirements, and renewable energy guarantee obligations.
The Carlton Solar Farm is currently under construction and is expected to reach commercial operation in the fourth quarter of 2027. The project has secured support through the UK government’s Contracts for Difference (CfD) scheme under Allocation Rounds 6 and 7, providing long-term revenue certainty for the project.
According to Enray Power, the transaction marks the first stage of a broader financing partnership with Rabobank. The company expects additional renewable energy assets to be incorporated into the financing framework as it continues to expand its clean energy portfolio in the UK.
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