TNB’s Vantage RE Ltd. Completes Financing Exercise of Its Solar Portfolio Assets
Tenaga Nasional Berhad (TNB)’s wholly-owned subsidiary, Vantage RE Ltd. (Vantage RE) has completed a GBP275 million financing exercise through refinancing of its Vantage Solar UK (VSUK) portfolio of solar power plants in the United Kingdom.
The 365 MW solar portfolio, comprises of 24 ground-mounted solar PV plants located across England and Wales, makes an important contribution to the UK’s supply of clean energy. As estimated by Macquarie’s Green Investment Group, the portfolio produces enough electricity each year to power the equivalent of more than 90,000 homes whilst helping to avoid approximately 3,300 kilotonnes of carbon dioxide equivalent emissions over the remaining lifetime of the portfolio.
The financing facility with Macquarie Asset Management, arranged by Standard Chartered Bank, is part of Vantage RE’s management initiative to optimise VSUK’s financing structure and providing greater investment certainty over the longer term.
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