KfW Ipex-Bank finances Neoen wind and solar projects in France
KfW IPEX-Bank has recently announced that it will provide loans to the French energy provider Neoen to support the execution of a project portfolio, which involves a solar PV facility with a total capacity of 30 MW and two wind farms for a total capacity of 46 MW in France.
The total commitments amount to a total volume of approximately €104 million (US$115 million) and the related credits have an up to 20 years-term. As the arranger and sole lender, KfW IPEX-Bank is, for the time being, the only provider of debt capital for this portfolio. The finance structure includes KfW promotional loans, in particular under the KfW Program Renewable Energies (Program 270 and 274).
The German manufacturer SolarWorld is supplying the modules for the 30 MW solar PV facility, currently being constructed in the Tarn department in south-western France. The solar PV facility will be completed soon.
Wind farm manufacturer Enercon, which is based in Germany, and the Danish company Vestas are supplying the equipment to the 25.3 MW Bussy Lettrée and 20 MW Raucourt II wind projects in Northeastern France. The two wind farms will be completed by the end of 2016.
Clifford Chance has advised KfW IPEX-Bank on the non-recourse financing of the solar and wind projects.
Charlie Canevet, Corporate Finance Director at Neoen, said:
“We are happy to be working with KfW IPEX-Bank again on our new projects in France. For our global activities in the field of renewable energies, we partner with dependable banks with proven structuring expertise.”
Country news
-
-
May 30, 2016
EDF Group sells stake in three offshore wind farms projects off the French coast to Enbridge
EDF Energies Nouvelles, EDF Group subsidiary has announced a new partnership agreement with Enbridge Inc., a North American energy sector company, including renewable energy. The agreement covers the development, construction and operation of three French offshore wind farms, totaling 1,400 MW of installed capacity. Read more -
May 30, 2016
JLEN announces acquisition of Parc Eolien Le Placis Vert wind farm
John Laing Environmental Assets Group (JLEN) has announced that it has entered into an agreement with Energiequelle GmbH (Energiequelle) to acquire 100% of the Parc Éolien Le Placis Vert wind farm. The consideration for the acquisition, which is expected to complete over the coming weeks, is approximately €2.5 million (US$2.8 million). Read more -
May 27, 2016
Groupe Eurotunnel to acquire 100% of Eleclink from STAR Capital
Groupe Eurotunnel and STAR Capital have signed a conditional agreement for the purchase by Groupe Eurotunnel of STAR Capital’s 51% share of ElecLink. Read more -
May 27, 2016
NTR and Envision bid for Velocita
NTR and Envision Energy are set to acquire Velocita, an independent European developer, owner and operator of wind and renewable energy projects. The team is among the final bidders for the acquisition. Read more -
May 26, 2016
DIF completes the sale of 6 French wind projects
DIF has announced that the sale of a portfolio of operational French wind projects by the DIF Renewable Energy Fund to a fund managed by Allianz Global Investors (Luxembourg) (AGI), has been completed. Read more
