Boralex closes financing for three French wind farms
Boralex Inc. has announced the closing of financing for three wind farms in France for a total amount of approximately €100 million (US$109 million), including €11.2 million (12.2 million) in financing for value added tax receivable.
Concretely, the three wind farms are the Mont de Bagny (24 MW), the Artois (23.1 MW) and the Voie des Monts (10 MW) wind farms
This financing is provided by Crédit Industriel et Commercial and BPI France Financement.
The financing is based on a debt/equity ratio of 80% and consists of a 10-year, €52.4 million (US$57.1 million) tranche at a fixed rate of 0.8% and a 15-year, €37.0 million (US$40.3 million) tranche at a variable rate of about 2.5% over the entire loan term, 90% of which will be covered by an interest rate hedging contract. The average interest rate over the 15-year period will be approximately 1.77%.
Loan disbursement is subject to certain customary conditions, which should be fulfilled soon.
Last, construction has already begun on all the projects and they are expected to be commissioned by the end of 2017, except for the Artois wind farm whose commissioning is slated for the end of the second quarter of 2017.
Country news
-
-
October 26, 2016
Omnes Capital launches a €100m fund dedicated to investment in high environmental performance public and private buildings
Omnes Capital and Pro BTP have launched the first French fund dedicated to financing the construction or renovation of high environmental performance public and private buildings in France. Read more -
October 21, 2016
Gamesa completes 872 MW wind programme
Gamesa has concluded implementation of its Energy Thrust programme for a French utility at 28 wind farms located in Spain, Portugal, France and Poland. Read more -
October 10, 2016
SUSI Renewable Energy Fund II successfully reaches final closing at €380 million
The SUSI Renewable Energy Fund II (SUSI RE II) has reached final closing at €380 million (US$425.5 million). Read more -
October 10, 2016
Voltalia sells 3 MW solar project
Voltalia, an international renewable energy player, has announced the sale of its 100% stake in a French solar plant to a financial investor. Read more -
October 10, 2016
NORD/LB finances solar rooftop projects in France
NORD/LB Norddeutsche Landesbank has financed further solar rooftop projects in France and, in the course of this, has continued to collaborate with Danish fund manager OBTON A/S. The total financing volume for the three projects closed in 2016 together with OBTON amounts to €48 million (US$57.7 million). Read more
