Belltown Refinances UK Renewable Energy Portfolio

LONDON, October 20, 2015 /PRNewswire/ --

Belltown Power (Belltown), has received a £45 million multiple draw down facility from Macquarie Infrastructure Debt Investment Solutions (Macquarie) to finance a portfolio of six operational renewable energy projects.

The 19 year amortising facility is a combination of indexed link and fixed rate debt. The 53.7 MW portfolio consists of five solar parks and one wind farm located in the Midlands and South West of the UK.

Tom Hill-Norton, CFO for Belltown said: "Belltown continues to grow its portfolio of renewable energy assets across the UK, and this refinancing will allow us to further capitalize on the current opportunities. We were pleased to work with Macquarie on the refinancing, and their offering stood out in terms of flexibility and fit with our portfolio."

Kit Hamilton, Managing Director, Macquarie, said: "Macquarie has extensive experience working with renewable energy assets and understands their financing needs. We were able to create a versatile draw down facility to allow Belltown to recycle capital and develop future renewable projects, while delivering an illiquidity premium for our investors."

About Belltown Power 

Belltown Power is a renewable energy utility and one of the UK's emerging leaders in the sector. Belltown was set up in 2013 by a group of investment professionals and engineers with a goal of creating one of the UKs largest portfolios of small, medium and large scale renewable energy assets.

So far, Belltown and its funding partners have acquired, built and now operate 18 UK renewable energy sites totaling over 115MW of generating capacity, across established technologies of wind, solar pv and hydro. We aim to grow our capacity to 150MW by the end of 2015 and to 500MW by the end of 2018. For more information visit http://www.belltownpower.com

About Macquarie 

Macquarie Group (Macquarie) is a leading provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie employs more than 14,000 people in 28 countries. At 31 March 2015, Macquarie had assets under management of £248.2 billion. For more information, visit http://www.macquarie.com.

About Macquarie Infrastructure Debt Investment Solutions 

In early 2012 Macquarie established the MIDIS platform to leverage the infrastructure expertise within Macquarie into an investor-aligned global infrastructure debt investment management business.

The MIDIS platform comprises a pooled fund and separately managed accounts. To date the business has raised total awarded mandates of £2.5 billion ($US3.9 billion) for its infrastructure debt strategy, which targets investment-grade infrastructure credits in sectors such as utilities, renewables, transport, PPP and social housing.