RES Secures Financing for UK Wind Farm Projects

Britain's Renewable Energy Systems (RES) has secured 34 million pounds ($53 million) from German bank Nord/LB to help finance up to 200 megawatts (MW) of wind farm projects in Britain, the company said on Wednesday.

The financing is in the form of a 15-year loan, said Alison Jones, community relations manager at RES.

The first projects to be financed are the renewable energy developer's 15-MW Jack's Lane wind farm in Norfolk and its 10-MW Woolley Hill wind farm in Cambridgeshire, which are in operation.

Together, these wind farms can generate enough electricity to meet the average annual demand of around 18,000 homes.

(Reporting by Nina Chestney)