Vantage RE seals £72 million refinance package

Press Release, London, 20th Jan 2023. UK renewable energy operator and owner, Vantage RE, announces a £72 million refinance package with two major lenders

Wind turbines at Blyth offshore wind farm

UK renewable energy operator and owner, Vantage RE, announces a £72 million refinance package with two major lenders. The deal sees Mizuho Bank and Natwest Bank become lenders to Vantage RE with finance facilities relating to the Blyth 1 offshore wind farm, located off the northeast coast of England. The financing agreement features a 15-year tenor and will enable Vantage RE to repay the original intercompany loan back to Tenaga Nasional Berhad (TNB).

The completion of this refinancing is an important step and demonstrates the confidence in Vantage RE. These facilities allow us to follow through on our strategy to optimise the capital structure by raising local financing and we are looking forward to continuing to deliver on our plans

Vian Davys, CEO at Vantage RE

Vantage RE owns and operates 49% of the shares of the Blyth 1 offshore 41.5MW wind farm in partnership with EDF Renewables UK who are the majority shareholder. This transaction supports Vantage RE to pursue its investment strategy.


Vantage RE is a wholly owned subsidiary of Tenaga Nasional Berhad (TNB), a utility company aspiring to be a leading sustainable energy solutions provider in Malaysia and internationally. The company was launched as TNB's renewable energy growth platform in the UK and Europe.


Vantage RE now manages a growing portfolio of solar, onshore and offshore wind with a combined total of 530MW generation capacity. Last month, Vantage RE announced their latest acquisition of 102 MW of solar and option for 65MW of co-located battery storage systems as the company broadens its activities into project development. In February 2022 Vantage RE announced a £275 million refinancing with Macquarie Asset Management covering a portfolio of solar power plants in the UK owned by Vantage Solar UK.

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