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Burges Salmon acts on £130m funding package to support major wind farm project in Scotland

The firm’s Banking and Finance team has advised Export Development Canada and NatWest on the long-term financing of the Limekiln Wind Farm

Independent UK law firm Burges Salmon has advised Export Development Canada (EDC) and NatWest on the long-term financing of a 106MW wind farm, located in Caithness in the Scottish Highlands. Acting as co-mandated lead arrangers and co-lenders, EDC and NatWest together provided £130 million to support the construction of the Limekiln Wind Farm, owned by Canadian energy producer Boralex.

With the capacity to produce, per year, enough green electricity to power 40,200 homes and save at least 65,000 tonnes of carbon emissions, the project is Boralex’s largest scheme in Europe and its first project financing in the UK.

Advising the two lenders on all aspects of the deal, Burges Salmon provided banking, finance, energy, real estate, planning and construction expertise. The team was led by partners Stuart McMillan, Lloyd James, Alex Whiter and Euan Bremner, supported by directors Alistair Rattray and Laura Sharples, senior associates Alison Logan and Owen Watkins, associates Amy McPherson and Kirsten Ogg, solicitors Thomas Papke and Chris Glendinning and trainee solicitors Gemma Hines and Carys Cox.

Stuart McMillan comments: “It has been a pleasure working with NatWest and EDC to unlock this significant capital for Boralex’s flagship project in the UK, one that will greatly benefit local communities, providing zero-carbon electricity and delivering an array of social, economic, and environmental benefits. In what was a complex deal, our experience advising on these types of financing transactions in the renewables sector meant we were able to work together with all parties, and across multiple jurisdictions, to bring this landmark project to fruition.”

Kristofer Gibson, Director, NatWest Infrastructure & Project Finance, says: “We’re delighted to have had the opportunity to support Boralex with its maiden financing and development in the UK market. The debt facility is another example of NatWest’s commitment to actively help building a greener economy and future by providing £100 billion Climate and Sustainable Funding and Financing to our customers by the end of 2025.”

Combining sector knowledge with banking and finance expertise, Burges Salmon provides tailored advice from a range of perspectives to support lenders and borrowers on complex financing transactions in the UK and internationally. Working across sectors, the firm acts for some of the world’s largest banks, building societies and over 50 financial institutions, alongside numerous PLCs and large corporate clients globally.


For more information, please contact Soraya Thoemmes at Soraya.thoemmes@burges-salmon.com or on 0117 307 6344  

About Burges Salmon

Burges Salmon is an ambitious, sustainable and inclusive firm that ensures its clients, people and wider communities flourish. Burges Salmon’s vision is to be the market-leading independent UK law firm that provides the best proposition for its people and its clients.

With offices in Bristol, Edinburgh and London, Burges Salmon maintains a collaborative and cohesive culture which underpins the quality of its work and client service. Burges Salmon has lawyers who are qualified to work in all three legal jurisdictions in the UK — England and Wales, Scotland and Northern Ireland. Burges Salmon also works internationally. Across the world, the firm works with a select number of like-minded independent law firms — the firm’s preferred law firm network. Burges Salmon is confident in its own model. In a rapidly changing world, clients instruct Burges Salmon because the firm offers a different experience: unrivalled expertise, excellent service and exceptional value.

The firm competes at the top of the legal market, working for large corporates, entrepreneurial businesses, institutions and public bodies and private individuals. The firm provides these sophisticated clients with a wide range of services, often at critical moments when astute legal advice and commercial guidance is needed. Working collaboratively, in partnership with clients, Burges Salmon forms its thinking around their needs to ensure delivery of the right solutions when it matters.