A £40 million bond has been agreed between the SIC and Viking Energy for the decommissioning of the 103-turbine windfarm.
The bond – originally due to be in place before construction on the windfarm began – was signed last week between the two parties and Santander, according to redacted documents seen by The Shetland Times.
It is a safeguard in case of any potential complications during the windfarm’s 25-year lifespan, to ensure cash is in place to properly decommission the site.
SIC development manager John Holden confirmed today in a letter to SSE that the planning conditions had been met. https://www.shetlandtimes.co.uk/2024/02/05/viking-and-sic-agree-40m-financial-b0nd?fbclid=IwAR0ed7YEI7R3eqjwZlaSFyySRwos4soonTcOL_itH4agiHr7j04aQx7H6I0
0 Comments