OnPath Energy has reached financial close for the 33-megawatt (MW) Mill Rig wind farm in South Lanarkshire, Scotland, the company said on Wednesday.
The six-turbine project, situated between Strathaven and Darvel, has secured a long-term, subsidy-free route to market with a U.S. technology company as the offtaker. NatWest provided financing through a term loan and ancillary facilities to support the construction and operation phases.
Civil works are well advanced with turbine foundations completed. Nordex is supplying the turbines, while contractors RJ McLeod and Wilson Forest Products are also involved in the project.
“Financial close follows many months of hard work and reflects a collaborative approach across our key suppliers, advisors and lenders,” said Oliver Hartley, finance director at OnPath Energy.
Hartley added: “Being part of the Brookfield ecosystem supports us through access to capital and power purchase agreement markets, which in the case of Mill Rig includes securing a long-term offtake agreement with a U.S. technology company as well as finance from NatWest.”
Kristofer Gibson, project finance lead at NatWest, said the bank was “delighted to provide OnPath Energy with this bilateral financing” and reaffirmed its support for the UK onshore wind sector.
The development is expected to create approximately 300 construction jobs and has attracted £91 million of local investment within 60 km of the site. Over its operational life, the wind farm will deliver a £5 million community benefit fund and contribute around £18 million in business rates to South Lanarkshire Council.
Mill Rig adds to OnPath’s existing portfolio, which includes 252 MW of operational capacity, 550 MW consented across wind, solar and storage projects, and a 3 GW pipeline. The company was acquired in 2023 by Brookfield Asset Management, which operates 46 GW of renewable energy assets worldwide.
