NORD/LB and BayWa r.e. close financing for three Italian 66 MW wind farms
BayWa r.e. and NORD/LB Norddeutsche Landesbank have successfully completed the financing of three new wind farms in Italy with a total volume of more than 100 million euro. The wind farms are currently constructed by BayWa r.e. (Munich) in the Italian regions of Lazio and Campania and have a total output of around 66 MW.
The projects Arlena and Tessennano have been built in the correspondent towns in the Lazio region and consist of nine Vestas V110 turbines with an output of 18 MW. Commissioning took place in October 2018.
The third wind farm Eolica San Lupo in the Campania region features 16 Vestas V117 turbines with a capacity of 48 MW. Commissioning is planned for July 2019.
Heiko Ludwig, Global Head NORD/LB Structured Finance: „We gladly support BayWa r.e. to promote the transition to renewable energy in Italy. With the current financings we show that we accompany our customers with qualified consulting and services not only regarding a wide variety of technologies, but also across European borders.”
Alessandra Toschi, Managing Director of BayWa r.e. Italia Srl., underlines: „After more than 10 years of development, we are now close to the completion of the projects. San Lupo, consisting of 16 wind turbines, is one of the most powerful wind farms in Italy, and we have been also involved in the construction of a complex grid connection. We are very pleased that with NORD/LB we found a strong partner for financing the projects.”
The generated amount of green electricity will support Italy's contribution to the overall EU target of 32 percent energy production coming from renewable energies by 2030.
Already in 2018, NORD/LB had realized the financing of the construction of the solar park Don Rodrigo in Spain for BayWa r.e. This project was the first of its size to be realized entirely subsidy-free. By financing the three Italian wind farms, the companies successfully continue their long-term cooperation.
With total assets of € 155 billion, NORD/LB Norddeutsche Landesbank is one of Germany’s leading merchant banks. Its core business segments include structured finance in the energy and infrastructure sector, ship and aircraft finance, corporate client business, commercial real estate finance, capital market business and private and commercial client business including private banking. The Bank has headquarters in Hanover, Braunschweig and Magdeburg. NORD/LB also has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf, Munich and Stuttgart. Outside Germany, NORD/LB is active in Luxembourg with a covered bond bank (NORD/LB Covered Bond Bank) and also has offices in London, New York, Singapore and Shanghai.
About BayWa r.e. renewable energy GmbH (BayWa r.e.)
Across solar and wind, at BayWa r.e. we r.e.think energy – how it is produced, stored and used to best effect. We are a leading global developer, service supplier, wholesaler and provider in energy solutions. We deliver renewable energy solutions worldwide; we have brought 2.4 GW of energy online, and manage 5,5 GW of assets. BayWa r.e. is a leading supplier to the solar wholesale market. We also have a rapidly growing energy trading business. As an integral part of the €16 billion BayWa Group, we work hard every day to find new solutions, push technological boundaries and actively shape the future of energy.
NORD/LB Corporate Communication