KKR and RWE are rich firms. Why do they need a UK state loan for their windfarms? | Nils Pratley
The project has been on the runway since the German utility RWE, the developer, was awarded a contract to build the windfarms in January’s renewables auction.
Key points
- But he can’t claim they represent a fresh expression of confidence.
- Together, they require almost £13bn of debt financing.
National wealth fund is to lend £1bn towards the Vanguard projects – but whether the private equity giant needed help is debatable “This major investment in UK renewables is a vote of confidence for building in Britain,” declared the prime minister.
Andy Burnham is obviously correct that the two Vanguard windfarms off the coast of Norfolk are huge investments.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
Advertisement
Every article behind this summary — 1 article from 1 outlet
Get stories like this in your inbox.
Subscribe — it's freeOne free email at 6am — your topics, deduplicated, five minutes. No account, no paywall.