NORD/LB Norddeutsche Landesbank has financed another wind farm in Finland. The Pajuperänkangas wind farm is located near the municipality of Haapajärvi in the province of North Ostrobothnia. The project is being realised in cooperation with ABO Wind AG.
The wind farm consists of a total of 14 Vestas turbines and achieves an output of 87 megawatts. The plant is currently under construction. The commissioning of the turbines is expected to be completed by November 2023.
"This is our largest international project that we have financed with NORD/LB. I believe we have built a solid foundation for further corporation and we hope this project is only the beginning of a long-term partnership,” said Karolin Pampel, Head of Project Finance & Sales Finland at ABO Wind AG.
"Financing sustainable projects of this kind is of great importance to NORD/LB. We have supported our customer ABO Wind AG over the last 10 years to expand its activities in the European market. We had a fantastic cooperation with a highly competent ABO team, and this allowed us to creade a tailormade and innovative financing solution. This transaction underlines NORD/LB's role as one of the leading European banks in the renewable energy sector and our strong market position in Scandinavia," said Heiko Ludwig, Global Head Structured Finance at NORD/LB.
NORD/LB has been financing renewable energy projects for 30 years. The bank has established itself both in Germany and in many international markets as an innovator for new and forward-looking financing solutions.
NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf and Munich. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.