NORD/LB and HSH Nordbank finance French wind farm portfolio
NORD/LB and HSH Nordbank each committed 50% of the total debt amount of around EUR 100 million to Eole Nord de France, the Holding Company of the wind farms. The port-folio consists of four farms between 12 and 24 MW and is owned by Diamond Generating Europe, a Mitsubishi Corporation Group subsidiary, and EDF Energies Nouvelles. Turbines from Siemens with 3 MW capacity will be installed in all wind farms. EDF Energies Nouvelles will have a strong managing responsibility in the construction and operational phase of the projects. Siemens will also be responsible for the maintenance of the wind farms.
NORD/LB and HSH Nordbank acted as joint Mandated Lead Arrangers to provide senior and ancillary facilities for the portfolio. NORD/LB assumed the role of Modelling and Documentation Bank and was also responsible for the overall coordination of the arranging and structuring process and will serve as Facility Agent for the on-going management of the financing. “The successful close of the financing underlines our leading position in the European Renewable sector, with France being one of our core markets,” said Heiko Ludwig, Head of Energy Origination at NORD/LB.
HSH Nordbank acted as Technical and Insurance Bank. “Providing financing for this interesting portfolio transaction is a continuation of our successful track record in the renewable energy sector in France, which is one of our key markets in this segment,” said Lars Quandel, Head of Renewable Energy at HSH Nordbank.
NORD/LB, with total assets of EUR 216 billion, is among Germany's leading commercial banks. Its core business fields include corporate banking, structured financing in the energy and infrastructure sectors, ship and aircraft financing, commercial real estate financing (via Deutsche Hypothekenbank), capital market business and the servicing of private and corporate customers. The bank is headquartered in Hanover, Braunschweig and Magdeburg, with branch operations in Düsseldorf, Hamburg and Schwerin. The bank is comprehensively represented via Braunschweigische Landessparkasse with over 100 branches. At the international level NORD/LB has a subsidiary in Luxembourg and branch operations in London, New York, Singapore and Shanghai.
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