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Galloper financial close expected by end of this year

By: Tom Russell 28/08/2015 4C Offshore

General Turbines Windfarms

RWE Innogy UK expects to reach financial close for the Galloper Wind farm by October, if not the end of this year.

According to Reuters, RWE is close to securing a financial deal for Galloper. In order to achieve this, RWE Innogy has recently conducted a market sounding exercise with potential lenders.

RWE announced in May 2015 "The objective is to secure Financial Close during the second half of 2015, which will then enable onshore construction to begin before the end of the year."

A RWE spokesman told 4C Offshore "We are looking for financial close hopefully by October, if not the end of this year." They further commented that "the project is progressing."

Galloper Wind farm , located 27km off the Suffolk coast, is an extension of the existing and fully operational Greater Gabbard Wind Farm. The 56 turbines to be installed are expected to generate a 504 MW of clean energy. Following community consultation, in-depth site investigations and a thorough examination by the Planning Inspectorate, Galloper Wind Farm was awarded Development Consent in May 2013.

For more information about Galloper Wind farm please follow the links provided.

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Galloper financial close expected by end of this year

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