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Primrose Solar has agreed a £42 million debt financing loan with Deutsche Bank for its Eveley solar farm in Hampshire.
The 49MW farm is one of the largest privately owned solar farms in the UK and expects to save around 21,500 tonnes of carbon dioxide per year.
Primrose Solar chief executive Giles Clark said: “This shows that the UK solar industry is capable of delivering world class projects to high quality and a tight timetable.”
Primrose acquired full project rights from PS Renewables last year and the project was one of the last large projects to be granted planning permission under the Renewables Obligation (RO) grace period rule. The project is now fully accredited and connected to the grid in March in 2016.
The site will also include a programme of ecological and biodiversity enhancement, with bat & bird boxes, sheep grazing between the panels, and grass and wildflower seeding where possible.
The funds have been loaned on an 18-24 month term.
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