PKF Francis Clark supports £5.25m funding for community wind project

Rob Gear, Corporate Finance, PKF Francis Clark

A South West accountancy firm has played a leading role in a major community wind project.

PKF Francis Clark provided financial advisory and financial modelling services for the 4.7MW onshore wind farm at Mynydd y Gwrhyd, 20 miles north of Swansea, South Wales.

A project finance facility of £5.25m, completed on May 18, was provided by Triodos bank repayable over a 15 year term. The balance of the funding has been provided by a loan from the Welsh Government and a public share offer.

Rob Gear, from PKF Francis Clark’s corporate finance team, said: “It’s great to have been involved in another community project knowing that any profits will be put back into the local community. Dan McCullum (project lead) and his team have been working tirelessly on this project for many years and it’s great to see it come to fruition.”

Dan McCallum said: “We are very grateful to PKF Francis Clark for their excellent advice throughout. We knew they’d worked on other community energy schemes and this experience was invaluable to us. They helped us navigate the various funding options, some of which were completely new to us. We look forward to working with PKF Francis Clark again.”

The project became operational in January 2017 and is expected to provide the annual electricity equivalent for over 2,500 homes from two 2.35MW Enercon turbines. Burges Salmon acted as lawyers on the project.

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About PKF Francis Clark

Chartered accountants and business advisers PKF Francis Clark has annual revenue of £38 million, a team of more than 600 people and 58 partners. Founded in 1919, the award-winning firm has eight offices across Cornwall, Devon, Dorset, Hampshire, Somerset and Wiltshire. PKF Francis Clark is a member of PKF UKI which is ranked 11th in the Accountancy Age 2016 survey of top accountancy firms.